The decision to cancel the previous tenders for television rights was taken by the Marketing Committee, which met here today.
The BCCI also decided to put out tenders for the team sponsors shortly, top BCCI officials told a press conference after the meeting.
"The committee decided to cancel the current tender and issue a new one with fresh terms... the BCCI is looking at generating more revenues and has identified the areas," BCCI Vice President Lalit Modi said.
Modi said that the BCCI was also contemplating issuing a separate tender for ICC organised tournaments like the Champions Trophy.
He said the Board would invite tenders for team sponsor on December 12 and open the bids on December 19.
As part of its efforts to generate more revenues, the Board would also have a team kit sponsor and bidding would be open to all manufacturers.
He said the BCCI would honour the cabinet's decision of sharing live feeds with Doordarshan, which will continue to have terrestrial rights for tournaments held in India. Satellite and cable rights and DTH would be sold separately.