Sources confirmed that Butt's recent visit to New Delhi had nothing to do with Indian board officials and he was in the city to meet the Zee TV network officials.
"He was there to meet with Zee TV officials who have majority shares in the Dubai based Taj Entertainment Network (TEN)," the source said.
The PCB has a four-year long contract with Ten sports, which is going to expire next year.
"Butt went for the meeting because Zee/Ten sports are keen on signing a fresh four-year contract with the PCB despite the fact that foreign teams are not touring Pakistan since March 2009 because of security reasons," the source added.
The domestic rights of Pakistan cricket are exclusively with Geo Super, which is pitted to be a front-runner to get the international rights as well.
A successful coverage of national Twenty20 events by the channel has drawn the attention of foreign broadcasters, who are now queuing to get the exclusive broadcasting rights.
The source added that Butt, who returned from India last night, might have also discussed with Zee the prospect of organising a bilateral cricket series with India in England or other neutral venues.