With less than two years left for their $612.18 million deal with the Board for Control of Cricket in India (BCCI) to expire, Nimbus is looking to sell 26 percent stake, reports the Economic Times. Nimbus has struck a four year deal with the BCCI, for rights to 23 Test matches, 56 One Day Internationals and 72 days of domestic cricket, to be held between March 1, 2006 and March 31, 2010. As per the report, Nimbus is expecting over $140 million for this stake.
Last year, Nimbus had raised $125 million from 31, Cisco and Oman International Fund, though just a few months later, there were reports last year that investors were looking to exit the company. Other investors include Deutsche Bank and Americorp Ventures.
Do note that Nimbus also has the Internet and Mobile rights for the English Premier League for 80 countries, till 2010, which they have been reselling. However, it’s important to remember that they do not have the rights for the successful Indian Premier League (IPL) franchise – that’s with competitor MultiScreen Media (Sony). Question is – what does Nimbus have to offer investors, post 2010?