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IPL rights: BCCI's out of court settlement with Sony
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NEW DELHI: The Board of Control for Cricket in India (BCCI) has reached an out of court settlement with Multi Screen Media Pvt Ltd (formerly Sony Entertainment Television) over the issue of broadcast rights of the Indian Premier League (IPL) 2009.

The deal between the two has been settled at $1.026 billion spread over a period of 10 years. It is learnt that the broadcaster had submitted a new offer to the organizers of IPL and sought an out of court settlement with them.

Last week, Sony had filed a case against BCCI in the Bombay High Court seeking injunction over the latter's attempts to negotiate a fresh contract for production rights of IPL. BCCI had claimed that it had already signed a deal with World Sports Group (WSG)-Mauritius. The Bombay High Court asked the BCCI not to sign any new contract until the case was resolved.

In 2008 edition of IPL, Sony had earned around Rs 350 crore as advertising revenues. For IPL second season, the broadcaster has already signed deals with firms such as Coca-Cola, Airtel Digital and Havells India. The schedule of matches for the second season is yet to be decided. The IPL was originally scheduled to be held between 10 April and 24 May. However, the home ministry and several state governments raised various security concerns and suggested that the matches be held after the general elections.

However, BCCI is awaiting approval from the home ministry for approving its revised schedule which has dropped venues like Delhi and Jaipur.

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