The International Cricket Councilon Sunday jointly awarded its audio-visual rights for ICC Events for a eight-year period between 2015 to 2023 to Star India and Star Middle East during which the channel will broadcast two World T20 and two 50-over World Cup tournaments.
Star India and Star Middle East bagged the rights from 17 competitive bids that were received by the parent body of world cricket.
According to an ICC release,"The decision was made by the ICC Business Corporation (IBC) Board, ICC's commercial arm, during a meeting at the ICC headquarters in Dubai on Sunday."
"The decision followed a robust tender, bidding and evaluation process, which started in July 2014. 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."
The ICC in its official release did not want to disclose the final value of the rights fee.
The current cycle has seen ESPN Star Sports hold the audio-visual rights until the contract expires at the end of next year's ICC Cricket World Cup 2015.
Included in the new eight-year period are 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).
ICC Chairman Mr N Srinivasan said: "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.
"This commitment for the next eight years will ensure greater stability for ICC Members as well as increased funding for developing and established countries. Emerging nations will have access to the largest funding resource in the history of the game and the Board has fully endorsed this framework as the best means of safeguarding the future of the sport," Srinivasan was quoted as saying in the press release.