Nimbus Issues Notice To BCCI To Pull Out Of $612 Million Cricket Rights Deal
By Sahad PV - Tue 06 Mar 2007 04:27 AM PST
A highly celebrated sports marketing deal is under threat due to the government involvement in the business. PTI reports that Nimbus Communications, which last year won the BCCI cricket rights for $612 million, has issued a notice to the Indian cricket control board threatening to pull out. It was exactly year ago Nimbus won the four year rights from BCCI after a high profile bidding war.
Nimbus’ decision to withdraw from the deal is after the Government issued an Ordinance making it mandatory for private broadcasters to share with Prasar Bharti the live feed of sports events of national importance.
Following Nimbus’ notice, BCCI has got into an emergency meeting at Board President Sharad Pawar’s official residence. We will be following this story closely.
Posted in: Sports
