Multi Screen Media (MSM) and the World Sport Group (WSG) have put aside their differences to sign a worldwide broadcast agreement with the Indian Premier League (IPL) worth more than US$1.5 billion to IPL commissioner Lalit Modi's brainchild. The IPL, which will be played in South Africa this year because of security concerns in India, has agreed a deal with the two broadcasters covering the entirety of the league's audiovisual rights for the next nine years.

It represents another astonishing achievement for Modi and the competition at the most unexpected time. MSM, formerly known as Sony Entertainment Television, has been in legal negotiations up until this week to prevent the Board of Control for Cricket in India (BCCI) from transferring the rights to the 2009 season of the IPL to WSG. But the three parties have now agreed a compromise, that sees MSM keep the rights within India until 2017, with the global rights for the same period going to WSG.

"We are absolutely delighted with the new deal inked today with WSG and Multi Screen Media," said Modi. "We have what we believe to be the best deal for the DLF Indian Premier League and Indian cricket fans alike. I am certain that Multi Screen Media will pull out all the stops in ensuring that the best technology is utilised to deliver excellent content that is creative, innovative and enriching for the cricket fans in India and indeed across the globe."

The deal, a triumph for Modi, has seen the value of the IPL rights increase by more than US$70 million per year after the restructuring of the previous deal, which also included all three parties. That was worth US$1.03 billion over ten years, but was called into question by the BCCI, which cited a breach of contract on the part of Sony.

MSM chief executive Manjit Singh said: "This acquisition of the media broadcast rights for another nine years reaffirms our commitment to the Indian sub-continent and the global cricket fan alike. We are absolutely delighted to bring the exciting IPL line-up of Indian and international cricketers to the millions of cricket fans globally."