Nimbus: The biggest mistake in BCB's history!!!!

[ammark]

Originally Posted by mij
BCB I got 1 message for you, stop making mistake after mistake, get Professional do the paper work right, and hope not to go with Nimbus ever again, does not matter how much they pay.

Exactly! BCB, Get a good lawyer to make you a watertight contract. Nimbus will be able to hide behind their contract and not pay your $27 mil precisely because of your incompetence when you signed it.

[HereWeGo]

http://www.thedailystar.net/newDesig...php?nid=168153

BNP blamed for Nimbus deal

Rashidul Hasan
The parliamentary standing committee on Youth and Sports yesterday blamed Hawa Bhaban and Arafat Rahman Koko, younger son of Khaleda Zia, for making the controversial TV rights deal with Nimbus
“BCB (Bangladesh Cricket Board) made this ambiguous agreement with Nimbus because of Hawa Bhaban and Arafat Raman Koko. You know Nimbus owes Tk 100 crore to BCB,” said Zahid Ahsan Russel, chief of the parliamentary body, after the meeting at the Jatiya Sangsad Bhaban yesterday.
He also warned that the standing committee would form a House probe body if BCB failed to realise the outstanding amount from Nimbus by January 24 next year.
"BCB high officials took two months time during the November 24 meeting to realise the money. And they must settle the issue within this time frame otherwise actions will be taken not only against them but also those who are responsible for signing this kind of deal,” said Russel, an Awami League lawmaker, adding that some other influential people were also involved in signing the agreement

[MohammedC]

Politicians messed it up last time. Lets hope they dont mess it up again.

[mij]

Originally Posted by HereWeGo
http://www.thedailystar.net/newDesig...php?nid=168153

BNP blamed for Nimbus deal

Rashidul Hasan
The parliamentary standing committee on Youth and Sports yesterday blamed Hawa Bhaban and Arafat Rahman Koko, younger son of Khaleda Zia, for making the controversial TV rights deal with Nimbus
“BCB (Bangladesh Cricket Board) made this ambiguous agreement with Nimbus because of Hawa Bhaban and Arafat Raman Koko. You know Nimbus owes Tk 100 crore to BCB,” said Zahid Ahsan Russel, chief of the parliamentary body, after the meeting at the Jatiya Sangsad Bhaban yesterday.
He also warned that the standing committee would form a House probe body if BCB failed to realise the outstanding amount from Nimbus by January 24 next year.
"BCB high officials took two months time during the November 24 meeting to realise the money. And they must settle the issue within this time frame otherwise actions will be taken not only against them but also those who are responsible for signing this kind of deal,” said Russel, an Awami League lawmaker, adding that some other influential people were also involved in signing the agreement

As usual all political party plays dirty.

[MohammedC]

At last...........

BCB to take legal action against Nimbus

The Bangladesh Cricket Board has decided to initiate legal proceedings to recover the outstanding dues from its international marketing agency Nimbus Sports International in connection with television broadcast rights.

The BCB sold the marketing rights up to March 2012 to Nimbus for a staggering $56.88 million in October 2006, but the company used various loopholes in the agreement to avoid payment last year.

As per the agreement, Nimbus owed the BCB a total of $27.76 million as minimum guaranteed money for last fiscal year. It was rather the BCB paid them $4 million as production cost for the home series against Zimbabwe, India and England and a

tri-nation one-day tournament.

Citing global recession as a pretext Nimbus demanded for a waiver of $17m from their minimum guaranteed amount.

The BCB was initially reluctant to go for arbitration as it risked them losing them money. They instead preferred a negotiation which apparently failed now, prompting the BCB to start the legal procedure.

It was confirmed by a BCB statement on Tuesday though it did not provide any details.

But is it too late too take any action.

http://newagebd.com/newspaper1/sports/15988.html

[AhmedN]

Originally Posted by amar11432
Just Ban nimbus from ever bidding again.

It will prove BCB has a strong backbone

[max410]

better give it to a lcoal channel in bd channel i and mahy otehr tvs need money desher taka deshey thakuk if other channels want to watchteh match let them take it from here

[F6_Turbo]

Originally Posted by AhmedN
It will prove BCB has a strong backbone

How many international broadcasters are there? What sort of deal do you think we'll get from ESPNSTAR if they are the sole bidder?

The issue here lies with the people in power when the contract was drawn up, and the idiocy of the board and it's legal team to agree to a contract that had so many loopholes.

Surely it couldn't have been that hard to approach Australia or England and ask them for a bit of assistance with regards to contract negotiations with media partners?

But as someone else said...this too was a learning experience, hopefully next time we will do due diligence before signing on the dotted line.

[lamisa]

bcb to take legal action. finally someone grew a spine!

[Neel Here]

just shows that BCB needs to hire better legal experts next time they sign an agreement.

Surely it couldn't have been that hard to approach Australia or England and ask them for a bit of assistance with regards to contract negotiations with media partners?

ignoring the best TV contract negotiator in cricketing world next door ?
and what makes you think eng or aus will even listen to bcb, let alone help them ?

[Avik]

at least BCB wont make the same mistake in the future i hope!

[beshideshi]

Just wondering who else would bid for broadcasting rights apart from espnstar[assuming Nimbus don't take part any more]?

[F6_Turbo]

Originally Posted by Neel Here
just shows that BCB needs to hire better legal experts next time they sign an agreement.

ignoring the best TV contract negotiator in cricketing world next door ?
and what makes you think eng or aus will even listen to bcb, let alone help them ?

I was working on the principles that the Indian Board wouldn't want to harm an Indian broadcaster, when it is dealing with a 3rd party.

This isn't meant as a dig at the BCCI, just that, maybe in this particular instance reaching out to India might not be the best idea.

But we are in agreement(as I said previously), that the main fault lies with the legal team that looked over the contract prior to signing.

[Neel Here]

BCCI will sell the skin off nimbus' backs if they can get away with it. they are a money making organisation, not a patriotic one (nor they should be). BCB>nimbus to BCCI in terms of importance because nimbus is a sponsor while bcb is a partner in ICC. bcci always looks for ways to squeeze the sponsors. I think bcb will get a better deal if they take bcci on board.

p.s. I am not saying you took a dig at bcci or sth. you have every right to do so anyway.

[Sohel]

I see why Nimbus is unwilling to cough-up the cash after paying those hefty adWances to Pinu, Koko and Mamuinnyah. Maybe BCB should work with ACC to recoWer the money from illegal accounts in S'pore, KL and a few of the Wahabi shopping malls in the Gulf region. Maybe it'd be easier just to transfer the funds to Loitta, Salman and his best buddy Falu's illegal accounts in those places.