Nimbus threatens to pull out

Handicapped by an ordinance biting into their revenues, Nimbus today threatened to pull out of its whopping Rs 2714 crore telecast deal...

Handicapped by an ordinance biting into their revenues, Nimbus today threatened to pull out of its whopping Rs 2714 crore telecast deal with the Indian cricket board which has now been left with the onus of sorting out the vexed telecast issue with the government.

Barely a year after acquiring the telecast rights for a record amount, Nimbus sent shock waves in the BCCI corridors by issuing a letter in which it threatened to pull out of the deal if an amicable solution was not found. The sudden development prompted the top brass of the BCCI to hold an emergency meeting at president Sharad Pawar’s residence and discuss the issue.

Nimbus’ decision to withdraw from the deal, covering matches in India till March 2010, comes after after the Government issued an ordinance last month making it mandatory for private broadcasters to share with Prasar Bharti the live feed of sports events of national importance.

Sharad Pawar, however, sought to downplay the development saying Nimbus had only issued a letter expressing resentment on certain issues and it was not a threat to pull out. “There is no problem with the Ordinance for us and the licencee (Nimbus). We completely agree with that. But there are certain technicalities, the signals are going out of India to Gulf and other places, which is affecting the revenue of Nimbus and us,” Pawar told reporters before the meeting.

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