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Star India & New Zealand Cricket Board yet to sign renewal deal

Star India and New Zealand Cricket Board (NZCB) have reportedly not been able to reach a deal, which was up for renewal this year.

Exchange4Media reports that the issues were down to valuation and the current market scenario during the pandemic. A source told the publication, “Given the current market scenario and COVID-19 related business implications, Star India has refused to renew the existing deal.” In 2017, NZCB had paid Star India $35 million for a three-year deal.

It is said that Pakistan Cricket Board, Sri Lanka Cricket Board and West Indies Cricket Board are also struggling to sign new deals with broadcasters in India.

Another source told the publication, “India has become a very tough advertising market for sports media rights outside of IPL, and this has been further significantly impacted by COVID-19. In addition, the broadcasting industry is in the midst of the new tariff order from TRAI which has also hurt broadcasters’ subscription revenue.”

Keep it with for more.