Double whammy for Nimbus - BCCI scraps deal; WSH postponed
The BCCI has terminated its broadcast deal with Nimbus for non-payment of outstanding dues. The BCCI will encash the bank guarantee of Rs 2,000 crore.
The Board of Control for Cricket in India (BCCI) scrapped its deal with Nimbus on Monday for telecasting its domestic and international matches played at home. The decision came from the richest cricket board two years before the contract ended. The BCCI will encash the bank guarantee of Rs 2,000 crore, according to the source.
Nimbus has been with BCCI for about more than six years now. It had initially signed a deal from 2005-06 then renewed its contract by signing a four-year deal with the BCCI for whopping Rs 2,000 crore on October 2009. The channel first paid Rs 24 crore ahead of the working committee meeting, but an amount of Rs 88 crore was still outstanding.
According to a source, the BCCI members were not only unhappy about the outstanding dues, but also that the promotions of the World Series Hockey were taking place in the air time that was scheduled for cricket.
With no international cricket matches scheduled in India for the next eight months, the Board felt that it was the right time to terminate the contract and sign a fresh deal.
Meanwhile, in a press statement issued, Nimbus stated: “Nimbus Communications Ltd has seen reports in the media in relation to cricket rights licensed to Nimbus by Board of Control for Cricket in India (BCCI). Given the confidentiality provisions of such contracts, Nimbus is unable to discuss details with the media, but can confirm that it has acted in compliance of its contractual obligations and variations agreed between the parties from time to time.”
The statement further said: “Nimbus is working towards achieving full resolution of any differences that may have arisen between the parties and is hopeful of a reasoned conclusion of these in the coming weeks. Obviously, it has fully reserved all its rights and options, including invoking the arbitration process if need be.”
Nimbus emphasised that no further statement would be made in this regard till its discussions with BCCI are concluded in the coming weeks.
In another development, Nimbus faced another blow on Monday when the World Series Hockey (WSH) was postponed until February next year after its dates clashed with Indian hockey team’s camp for the Olympic qualifiers. Nimbus is the official broadcaster of the WSH.
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