The BCCI is believed to have offered Nimbus Communications a settlement in its dispute over broadcast rights for cricket in India, ESPNcricinfo has learned. The board had terminated Nimbus' contract in December, following which Nimbus filed a claim for damages of close to Rs 600 crores (approx. $121 million) in the arbitration process currently under way.
Two BCCI officials contacted by ESPNcricinfo said they were not aware of the board offering such a settlement. However, a resolution of this issue would mean one less case for the BCCI to fight and would save the board the trouble of finding a new rights holder at a time when the Indian economy is slowing down.
The settlement, this reporter understands, requires Nimbus to drop their claim for damages, which rests mainly on two contentions: that the Indian team rested top players for home series, contrary to the contract, and that there was no India-Pakistan series as stipulated. In return, the board will restore the broadcast rights to Nimbus. The agreement would need to be ratified by Nimbus' shareholders to be accepted.