It was not immediately known when the agreement would take effect.
The agreement had taken all of ten minutes to strike.
The agreement, which was signed in 2007, took months of negotiations.
The agreement takes effect beginning with the 2010 college football season.
But fighting continued late into the night Friday, and it is not clear whether the agreement will take hold.
Sterling said the agreements would take effect if the company was taken over.
The agreement could take 10 years and cost more than $5 billion to complete.
But the Indian agreement, once signed, will take effect immediately.
The agreement will take effect at the start of the 2014 season.
"If the people were with us, this agreement would not have taken place," she said.