The Board of Control for Cricket in India has sold the ground and title naming rights for 55 Tests and ODIs to be played in India in the next 31 months, beginning September 1, to the World Sports Group (WSG) for Rs 173.25 crore.

WSG, part of the Global Cricket Corporation based in Hong Kong, London [Images] and Singapore, outbid two other competing Indian firms -- Percept and Nimbus [Get Quote] -- to secure the rights till March, 2010, BCCI vice-president and marketing committee chief Lalit Modi told reporters in Mumbai on Monday.

"The WSG consortium has won the rights from among four bidders including 21st Century Media, which was disqualified as they had not submitted all the necessary documents," Modi said.

He said that the winning bid was just over the base price of Rs 3 crore per match, set by the Board for the bidding process.

"There will be 55 matches covered by the bid. The winning bid is three times over the last contracted bid, which was Rs one crore per match," Modi added.

Modi also said the bids for the other rights, including Twenty20 internationals to be played in India and domestic cricket, are still "being negotiated".

The deadline for submitting the bid ended at 12 noon on Monday after which they were opened in front of the bidders and the members of the BCCI's marketing committee.