The amount being discussed is $1.026 billion over 10 years.
The Board of Control of Cricket in India (BCCI) and Multi Screen Media (MSM) Pvt Ltd (formerly Sony Entertainment Television) may resolve their dispute over domestic telecast rights for Indian Premier League (IPL) out of court.
Sony, which took the BCCI to the Mumbai High Court against cancellation of the broadcast deal by the former, is said to be in intense talks with the board to resolve the matter.
In response to a text message sent to him, Lalit Modi, chairman and commissioner of IPL, said he could not confirm if a settlement had been reached.
“To my knowledge, no settlement has been reached yet,” said a lawyer close to the development. “But it is true that the two parties are discussing. We are hoping that an amicable settlement can been reached soon.”
The lawyer confirmed that the amount being discussed was $1.026 billion over 10 years.
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Rohit Gupta, president, network sales and revenue management, MSM, said: “I would not like to comment on any issue pertaining to IPL.”
However, several other private channels, like ESPN, are in touch with the BCCI and World Sports Group (WSG), the Mauritius-based sports management company that got the BCCI contract after the IPL organiser terminated the deal with Sony on March 14.
Last week, Sony moved the high court seeking an injunction against the latter’s attempts to negotiate a fresh contract. The BCCI claimed it had already signed a deal with WSG. The court told the BCCI not to sign any new contract till the matter was resolved.
WSG bought the rights for IPL’s second season for Rs 335 crore ($66m), 50 per cent more than what Sony had paid last year. Meanwhile, the court on Wednesday reserved its order on the case filed by MSM.
With IPL already in a fix over problems over its schedule coinciding with the coming general elections, Modi is trying hard to salvage the multi-million-dollar T20 tournament. The home ministry has asked the organiser to redraw the schedule for security reasons.