New Delhi: The spat between the Indian Premier League (IPL) and broadcaster Sony Entertainment has snowballed into a bitter legal battle.
On Saturday, BCCI served a termination notice to Sony to end its exclusive broadcast rights, accusing it of breaching the original contract on several counts. Sony, which holds IPL broadcast rights for five years beginning 2008, reacted by dragging BCCI to court on Sunday.
The Bombay High Court is hearing the case.
CNN-IBN has learnt from reliable sources that bids this year are already in some cases 30 per cent higher than last year. So in effect IPL could get richer by an additional $300 million.
However, everything depends on the outcome of the hearing in Mumbai since the court said till the matter is heard BCCI shall not enter into any further agreements related to the IPL.
Sony has reportedly sold almost half the air time for over Rs 200 crore. It was expecting to earn between Rs 300 crore and Rs 350 crore in ad and sponsorship sales from the event.
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