UPDATE: Cricket Australia has confirmed the record A$1.512 billion rights deal with Foxtel and Seven West, extending its broadcasting partnership for an additional seven years, lasting until the end of 2031.

“We are delighted to be continuing our broadcast partnership with the Foxtel Group and Seven under an improved deal,” Cricket Australia CEO Nick Hockley said.

“The quality and reach of the Foxtel Group and Seven’s cricket production is first class and the outstanding service they provide cricket fans was a strong consideration in our decision to continue with this successful partnership.”

In the wake of this new deal, Seven will terminate its lawsuit against Cricket Australia, with CEO Nick Hockley confirming CA will pay its own legal costs, in the realm of “millions”, according to Hockley, as the once-feuding bodies committing to a “reset” on the partnership.

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Cricket Australia have decided that Paramount and the Ten Network were too much of a risk to the Cricket brand, with the broadcasting rights going to Foxtel and the Seven Network who have chosen to not continue their legal action against Cricket Australia as part of the deal.

Later today Cricket Australia is set to announce a $65M a year deal ahead of the New Year’s Test between Australia and South Africa. with the Seven Network paying $10M a year less than they got last time round.

ChannelNews understands that the reported $1.5M that Paramount was supposed to have offered was “nowhere near the reported amount” claim.

The $455 million from Seven coupled with what Foxtel offered over the seven-year term, running from the 2024-25 season to 2030-31 was seen as superior to what Paramount offered which was believed to be below the $1 Billion dollar mark.

Channel Seven had launched legal action against Cricket Australia in a bid to terminate its current $450 million TV rights deal, accusing the sport’s governing body of multiple contract breaches as well as misleading and deceptive conduct.

The network claimed Cricket Australia’s failures in scheduling, administration and player management had directly led to a decline in quality and standards of its prime-time summer showpiece Big Bash League over the past three years.

The broadcaster says this has resulted in the loss of advertising revenue and of the “halo” benefits derived from premium programming.

This legal action will now be dropped.

Several newspapers reported that Paramount had offered $1,5M over five years but despite the money the risk of associating the Cricket brand with the struggling Ten Network and the new Paramount + streaming network was too much for Cricket Australia with Foxtel which is predominantly owned by News Corp able to offer their vast promotion of Cricket across streaming, newspapers magazines and online.

The Seven Network News which often rates #1 in Australia was also seen as a major contributor to growing cricket awareness in Australia.

Another major factor was that in the end, the quality and reach that Foxtel was able to deliver was the Centrepoint of cricket’s five-year deal.

The deal between the three parties was finalised on the morning of New Year’s Eve.

A Cricket Australia spokesman declined to provide details on the deal, saying on Monday afternoon, “all will become clear tomorrow”. (today Tuesday).

Currently The federal government is reviewing the “anti-siphoning list,” a law that aims to protect significant sporting events from going behind pay TV.

The major sporting codes want the list slimmed down or removed altogether, which would allow them to negotiate freely with broadcasters, pay TV networks and streaming platforms for the highest amount possible.

The free-to-air networks insist sport is critical to their commercial model, and warn the likes of Netflix, Amazon Prime and Disney+ could make a play for major sporting events.