Numerous payment problems, questions about their lack of funds and repeated demands to include a Pakistan series are some of the factors the BCCI considered before it decided to terminate its contract with Nimbus Communications. The decision was taken by the board's working committee at a meeting held in Delhi on Monday.
"The board president [N Srinivasan] was worried about the capital of Nimbus and the fact that there is not much liquidity and this is a serious concern going forward," a senior BCCI official said. India are not scheduled to play any further international cricket at home until September 2012, and the official pointed out that the board was not confident Nimbus could sustain itself in the long run. Nimbus had renewed its contract with the BCCI in 2010, negotiating a four-year deal worth about Rs 2000 crores ($379.5 million).
The board was equally concerned by what they claim were Nimbus' regular defaults on payments. According to the contract, Nimbus were supposed to pay 50 percent of the amount before a series began and the remainder at the end. The board official claimed that Nimbus failed to do so on many occasions, including the last two home series played by India: the five-match ODI series against England followed by the recently concluded tour by West Indies that included three Tests and five ODIs.