during day four of the First Test match between Australia and India at the Adelaide Oval on December 12, 2014 in Adelaide, Australia.

Cricket Australia (CA) are set to strike a new broadcast deal with Disney Star worth $250 million to showcase Australian home matches in India.

The Sydney Morning Herald has confirmed that the agreement is imminent and is set to last seven years across both television and digital streaming rights.

Disney Star's ownership of the Australian broadcast rights will accompany their IPL broadcast on TV in the subcontinent for the next five years.

Sony was widely expected to pick up the Australian events, given they were the incumbents, having signed a six-year deal with CA in 2017 worth $150 million.

Sony had lost on several rights packages to the IPL and Disney Star was also unsuccessful in some regards by losing the digital market to Viacom.

Freed up cash from not securing digital IPL rights allowed Disney Star to commit to international rights and outbid Sony.

The Australian home matches were duly targeted given the insurance of having 20 Test matches against India and England in the next rights cycle.

In turn, CA's venture into the Indian market is vital and the return can be banked upon.

MELBOURNE, AUSTRALIA - DECEMBER 29: Jasprit Bumrah of India bowls during day four of the Second Test match between Australia and India at Melbourne Cricket Ground on December 29, 2020 in Melbourne, Australia. (Photo by Robert Cianflone/Getty Images)

The value of the Indian broadcast rights has increased from $35 million to $85 million and then to $140 million over the past 20 years or so.

CA chair Lachlan Henderson, broadcast rights strategist Richard Freudenstein and CEO Nick Hockley visited India earlier this year during the latter stages of the IPL to discuss various agreements with Disney Star, Sony and Viacom.

It is understood that an official announcement on a formal deal will be announced shortly.