The amicable settlement marks the end of a long-running contractual row between the two parties over the television coverage of the sport.
The restructuring of snooker, which has seen World Snooker fend off the advances of a rival company to take commercial control of the sport, has meant that the issues between the governing body and TWI were able to be resolved.
Comments Richard Relton, chief executive of World Snooker: “It has always been one of our high priorities since we arrived before Christmas to reach settlement with TWI and start to rebuild the relationship with them as key players in the sport.
“We are delighted that this issue can finally be put to rest and that the sport can move forward without the spectre of litigation hanging over it. The negotiations we have had with TWI have been positive throughout and both parties are committed to working together in the sport going forward.”
Added Bill Sinrich, president of TWI: “TWI has a strong commitment to snooker. The new World Snooker management team has worked hard to build bridges with us and TWI is pleased to reciprocate their commitment. We look forward to working with them for the benefit of the game.”
