Speculation was rife on Wednesday of an out of court settlement between the Board of Control for Cricket in India (BCCI) and Multi Screen Media India (formerly Sony Entertainment Television) over the issue of broadcast rights of the Indian Premier League (IPL).

Sources close to the development informed Televisionpoint.com, that the broadcaster has submitted a new offer to the organizers of the IPL and has sought an out of court settlement with them.

The source, who did not want to be identified because the matter is still before the court, said, "The Bombay High Court will take its own course, the parties are constantly in touch with each other and there is no denial in the fact that it will be in everybody’s interest if the matter is resolved amicably and as soon as possible."

Late last week, MSM India had dragged BCCI to court, seeking injunction over the latter’s attempts to negotiate a fresh contract for production rights of IPL.

BCCI had claimed that it had already signed a deal with World Sports Group (WSG)-Mauritius until the Bombay High Court asked the BCCI to hold its signing of any new contract till the case was resolved.

After hearing both parties on Monday and Tuesday, the court had reserved its judgment. The hearing on the case has been going on for the past two days. BCCI counsel Virat Tulzapurkar had told the court on Tuesday about the possibility of an out of court negotiation if MSM offered to withdraw the case.

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