This includes 18 ICC tournaments, including two ICC Cricket World Cups (2019 and 2023), two ICC Champions Trophy tournaments (2017 and 2021) and two ICC World Twenty20 tournaments (2016 and 2020).
According to the ICC board, it is the biggest global broadcast partnership deal. The decision followed a robust tender, bidding and evaluation process, which started in July this year. During the process, which involved two rounds of bidding, the ICC received 17 competitive bids from various broadcasters, across different territories, for its audio-visual rights.
Without divulging the final value of the rights fee agreed upon by both parties, the press statement simply states that it is significantly in excess of the ICC's previous commercial deals.
At present, ESPN Star Sports holds the audio-visual rights (to telecast ICC events) and will continue to do so till the end of the ICC Cricket World Cup 2015, which is when the contract will expire.
N. Srinivasan, chairman, ICC, says, "We are delighted that our partnership with the Star Group has extended to the next cycle of ICC Events. This illustrates the strong relationship we have built in the current cycle and the value we have delivered since 2007. Star has an outstanding reputation as a sports broadcaster and has played an integral role in promoting and growing the game by taking coverage of ICC Events to a truly global and record-breaking audience, and we look forward to this continuing for another eight years."
He insists this development will not only add stability for ICC's members but will also increase funding for developing - and established - countries. "Emerging nations," Srinivasan adds, "will have access to the largest funding resource in the history of the game."
Uday Shankar, CEO, Star India, says, "We are delighted and honoured to extend our partnership with ICC. This is a tribute to Star's commitment and ICC's trust in our ability to take the great game of cricket to the next level. Star will constantly attempt to reinvent the viewer experience to make cricket bigger and bigger."
According to Giles Clarke, chairman of IBC's Finance and Commercial Affairs Committee, this partnership will underpin the long-term financial health of the global game and provide real stability to its members. "The partnership will also guarantee increased promotion and marketing of the game in key markets across the globe," he says.
David Richardson, CEO, ICC, says, "This agreement guarantees more money for all our members..."