Times Internet Ltd, part of the Times of India group has been awarded the global radio and mobile rights for the Indian Premier League, along with television rights for certain territories.
The deal worth around $58 million is for a four-year period between 2011 and 2014.
According to Eurosport, the bids were opened in the presence of Justice Mukul Mudgal, a former High Court Chief Justice, under the orders of the Supreme Court, which required the bids to be opened in front of an independent observer because of the ongoing dispute between the BCCI and sport marketing agency, World Sport Group (WSG).
Under the terms of the order, any money the BCCI receives from Times Internet is to be kept in an escrow account, and the board can only withdraw amounts equivalent to those which it would have received from WSG under the existing contract as if their agreement had not been terminated.
The bids will also not be final until the dispute between the two is resolved.
Although WSG had asked the Supreme Court to prevent the tender from being issued, it still welcomed the 18th March order.
The 2011 IPL kicks off on Friday 8th April when reigning champions, Chennai Super Kings, host the Kolkata Knight Riders in Chennai.
The television rights for the Indian subcontinent, held by SET MAX, as well as certain other territories, were not part of the tender offer.
A UK/Europe telecast broadcaster is still yet to be confirmed. Keep it with BizAsia.co.uk for details.