In the midst of brickbats, board gets Rs 400cr

[DesiChap]

Friday, March 30, 2007 00:12 IST MUMBAI: The performance of the players may have taken a beating, the cash flow into the Board?s coffers, has not. In the midst of all the hue and cry over India?s early exit from the World Cup, the Board has resolved a major issue. Nimbus, which had ?threatened? to pull out of its $612 million television contract with the BCCI, is very much on board. It has, in fact, paid the bank guarantee to BCCI. ?We?ve resolved the whole issue amicably. Nimbus has given us the first bank guarantee,? BCCI secretary Niranjan Shah confirmed to DNA. Nimbus paid the first instalment of Rs 400 crore ? as per the new arrangement ? to the Board on Thursday. ?We?re happy to be taking forward our agreement,? said a Nimbus spokesman. The four-year television rights deal was in trouble after a recent Government law which forced the private broadcaster to share the live feed with Doordarshan. But Nimbus withdrew its threat of a ?pullout? after the BCCI came forward to share its losses. Nimbus was to pay Rs 960 crore bank guarantee by March 31 but as per the new agreement it can pay the guarantee money in two instalments. The deadline for the first instalment is March 31 and the second deadline in June 30. Both the parties, in the meantime, will get the Nimbus? losses ? for sharing the feed with DD ? quantified by a third party, and would abide by its decision. This is the second year of the agreement and during the period India are to play some big matches. India will be hosting Australia in seven ODIs after which South Africa and Pakistan will visit the country. Prior to all this, India will visit Bangladesh for a short series. Incidentally, Nimbus also holds the media rights for the Bangladesh Cricket Board too and will be televising the matches in both countries. Meanwhile, the Board is planning to resolve the other contract issue. The players contracts, pending since October last year, are likely to be pushed through during the April 6-7 meeting called to discuss India?s debacle in the World Cup. ?We?re hoping to get the contracts signed by the players soon,? said Shah confirming that the players? incentive would be based on their performance. The contracts were to be signed before the team left for the West Indies but were put on hold because of players? reservation over certain clauses.

[yoda]

Re: In the midst of brickbats, board gets Rs 400cr now that's a good business. fail and still make tons of money. :wtg:

[gs]

Re: In the midst of brickbats, board gets Rs 400cr BCCI is hedging well

[ask4me]

Re: In the midst of brickbats, board gets Rs 400cr this is like... HEADS I win TAILS I win even more :shrug:

[gs]

Re: In the midst of brickbats, board gets Rs 400cr

this is like... HEADS I win TAILS I win even more :shrug:

TAILS you lose!

[ask4me]

Re: In the midst of brickbats, board gets Rs 400cr

this is like... HEADS I win TAILS I win even more :shrug:

TAILS you lose!

naah GS, that rule applies to indian team(especially in CWC 2007) HEADS BD win over india TAILS India Looses to Srilanka. :tired: :tired: But the BCCI is is like dono haath main laddu aur sir kadhayi main ... chitt bhi meri and Patt to meri hai hi hai. :shrug:

[Chandan]

Re: In the midst of brickbats, board gets Rs 400cr So does anyone know how much BCCI is raking up totally? I'll give you the figure: No.1 BCCI is among the richest sporting organizations in the world, and the richest cricketing body by far. The immense popularity of the game in India as well as the continuous growth of the Indian economy have armed BCCI with some of the most lucrative TV and sponsorship contracts in world sports. The global media rights for international cricket to be held in India between March 2006 and March 2010 were awarded to production house Nimbus for a mind-boggling sum of US$612 Million. No 2 The rights to being the official kit sponsor for the duration of 5 years(1st January 2006 to 31st December,2010) were awarded to Nike for US$43 Million. No 3 While Air Sahara earned the privilege of being the official Indian cricket team sponsor for a period of 4 years by shelling out US$70 Million. No 4 The media rights for 25 neutral venue one-day matches to be played over the next 5 years were awarded to Zee Telefilms for US$219.15 Million. No 5 Business Standard [5] reports that it will get another Rs 2,000 crore ($450 million) from the sale of other rights, including hotel, travel and ground sponsorship. No 6 BCCI will also establish an inter-city cricket league in limited-overs and Twenty20 format. It will be structured along the lines of professional leagues such as the English Premier League, complete with relegations and promotions. The league will also recruit overseas cricketers and will have separate TV, internet, mobile, merchandising, sponsorship and ground signage rights. BCCI marketing director Mr.Lalit Modi has predicted that it would become the single largest revenue earning avenue for BCCI after its establishment. On 12th September, 2006 BCCI announced that it will spend $347 Million (Rs. 16 Billion) over the subsequent one year to upgrade the cricket stadiums around the country.

[Chandan]

Re: In the midst of brickbats, board gets Rs 400cr You all must be knowing about all those.