ESPN-STAR Sports has bagged the exclusive rights to telecast the 20-20 Champions League matches for the next 10 years at a whopping US $ 1 billion.

The channel will telecast all the seasons until 2017. The inaugural season will be started from December 3 to 10 this year. The other contenders were Abu Dhabi Sports Club and DIC.

Commenting on this process Chairman and Commissioner of Indian Premier League Lalit Modi said, "We are absolutely delighted that after a fair and transparent process, we have what we believe to be the best commercial deal for the inaugural Champions League Twenty20 season and for cricket fans across the world. All the bids received were of a very high standard and we would like to thank all of the organisations that participated and for their submissions."

Delighted over winning the bidding process Manu Sawhney, Managing Director, ESPN STAR Sports, said, "We're extremely pleased at having won the Global Commercial Rights to the new and exciting Champions League Twenty20.”

The much awaited 20-20 tournament in its first session will feature teams from India, South Africa, Australia, England and Pakistan. The organizers also plan to expand the tournament to 12 teams in the second edition which will be held between September 25 and October 10, 2009.