New Delhi: The Board of Control for Cricket in India (BCCI) has scrapped its deal with Nimbus Communications with immediate effect, Cricketnext.com has learned.
According to BCCI sources, the board will proceed to encash a bank guarantee of Rs 2000 crore.
The news is significant for it comes against the backdrop of a crisis between the BCCI and its Nimbus, its broadcasters in India. This week Nimbus - which renewed its contract with the BCCI in 2009 - was accused by the BCCI of lagging behind on payments for certain number of matches.
While Nimbus said that there were no outstanding payments, the BCCI's sudden decision has thrown into confusion the scenario.
The decision was taken after Nimbus failed to agree to the BCCI's terms that it pay 50 per cent of each months stipulated amount 30 days prior to commencement of the recently concluded West Indies series.
It had been reported on Sunday that sources in Nimbus claimed that payments up to 75 per cent of the pending amount had been made and that they requested the BCCI to extend their January deadline for the last leg of the payment.
In 2009, almost six months before the expiry of its global media rights for broadcasting international cricket from India, the BCCI had firmed up a further four-year contract (2010-2014) with Nimbus, a leading sports channel, for a sum of around Rs. 2000 crore.
Per the deal, Nimbus agreed to pay a sum of Rs. 31.50 crore for each Test, 50-over and Twenty20 international played in India in that specific four-year period.