Eshen
June 17, 2008, 06:18 PM
Long-term deal between BCB and Nimbus on the anvil
http://www.newagebd.com/2008/jun/18/spt.html
The Bangladesh Cricket Board is at the final stage of striking a long-term deal with Nimbus Sports International, which will hold the marketing rights of Bangladesh cricket up to March 2012.
Nimbus won the marketing rights of Bangladesh cricket for a six-year period in November 2006 when it outbid Zee Sports and ESPN-Star Sports by agreeing to pay $56.88 million.
However, the BCB did not sign any long-term agreement with Nimbus after a section of cricket organisers and media raised questions over some conditions of the proposed deal.
A special committee, headed by BCB member MA Momen, reviewed the proposed deal and renegotiated some provisions with the Nimbus’s officials before making some recommendations.
The recommendations were elaborately discussed in a meeting of the BCB on Monday. It was revealed in the meeting that Nimbus has agreed to reduce the production cost of the matches during the contractual period from $19.5 million to $15 million.
The BCB and Nimbus also agreed to minimise the risk of revenue loss in the eight series of matches that have been deemed to be a commercial flop. The meeting was also told that Nimbus had agreed to give a bank guarantee against the money it is due to pay.
‘Our lawyers are working on some other details of the deal. Hopefully we will be able to sign a final agreement within a few weeks,’ said Ahmed Sajjadul Alam, a BCB official.
http://www.newagebd.com/2008/jun/18/spt.html
The Bangladesh Cricket Board is at the final stage of striking a long-term deal with Nimbus Sports International, which will hold the marketing rights of Bangladesh cricket up to March 2012.
Nimbus won the marketing rights of Bangladesh cricket for a six-year period in November 2006 when it outbid Zee Sports and ESPN-Star Sports by agreeing to pay $56.88 million.
However, the BCB did not sign any long-term agreement with Nimbus after a section of cricket organisers and media raised questions over some conditions of the proposed deal.
A special committee, headed by BCB member MA Momen, reviewed the proposed deal and renegotiated some provisions with the Nimbus’s officials before making some recommendations.
The recommendations were elaborately discussed in a meeting of the BCB on Monday. It was revealed in the meeting that Nimbus has agreed to reduce the production cost of the matches during the contractual period from $19.5 million to $15 million.
The BCB and Nimbus also agreed to minimise the risk of revenue loss in the eight series of matches that have been deemed to be a commercial flop. The meeting was also told that Nimbus had agreed to give a bank guarantee against the money it is due to pay.
‘Our lawyers are working on some other details of the deal. Hopefully we will be able to sign a final agreement within a few weeks,’ said Ahmed Sajjadul Alam, a BCB official.