Bangladesh board and Nimbus finalise deal

The Bangladesh Cricket Board (BCB) and Nimbus Sport International have finalised their six-year contract for television and marketing rights of BCB events until 2012. The agreement is a formalisation of the contract which the two parties entered into in November 2006 and under this agreement Nimbus will guarantee minimum revenues of US$ 56.88 million to the BCB.

Nimbus, a Singapore-based television company, had paid US$ 56.88 million for live coverage rights for all matches in Bangladesh until 2012. However, the government stalled its approval of the record deal in late 2006, stating that the deal lacked transparency. The new BCB management had decided to investigate the sensitive financial deal, which was supposed to be finalised by the end of 2007.

The final agreement, called the Long Form Agreement, was recommended after a review of the initial contract - the Heads of Agreement - by a special review committee appointed by the BCB, Tigercricket.com reported. The three-member negotiation committee was headed by BCB finance committee chairman MA Momen.