The Pakistan Cricket Board (PCB) is nearing the completion of its most expensive ever commercial deal for the Pakistan Super League (PSL). According to The Express Tribune, a media rights deal worth PKR 18 billion for the PSL is on the table, and the proposed deal is expected to set a new benchmark for sports broadcasting.
The upcoming season of the PSL will start on March 26. It is striking that the growth of the competition has increased the value of media rights. The PSL schedule will clash with the Indian Premier League (IPL) for the second time in a row, which could limit the availability of foreign stars for the T20 tournament in Pakistan.
Pakistan Cricket Board eye record PKR 4.5 billion per annum PSL media rights deal
The PCB recently opened bidding for a four-year media rights deal for the Pakistan Super League, but two major sports channels were disqualified after failing to pay long-term dues. Despite being given extra time, the broadcasters have not fulfilled their obligations.
According to The Express Tribune, a company that already owns a PSL franchise has emerged as the frontrunner. The offer is valued at PKR 4.5 billion per annum, bringing the total deal to approximately PKR 18 billion over four years. If completed, it would become the most expensive broadcast deal in PSL history.
The matches are likely to be telecast on Pakistan Television (PTV), the state broadcaster. Meanwhile, the two disqualified channels reportedly owe PCB PKR 4.7 billion and over PKR 600 million respectively, ultimately ruling them out of the bidding process.
PCB Bars Consortium bids to ensure fair competition in PSL media rights auction
The PCB has changed the rules governing the bidding process for PSL media rights. Broadcasters are not allowed to form consortia. The board has taken this step to prevent any form of collusion and ensure fair competition.
Companies can bid separately for television and digital streaming rights. Each bid requires a deposit of PKR 100 million. The winning bidder’s deposit will be adjusted, while the others will receive refunds.
The PCB has not yet announced the minimum price. However, estimates suggest that broadcast rights could be valued at around PKR 18 billion, while digital streaming rights could start at PKR 6 billion and go up to PKR 7 billion.
PSL expansion increases the value of media rights ahead of the eleventh season
In the PSL, the number of matches will increase from 34 to 44 after the addition of two new teams. The increase of ten games per season makes the proposed four-year media rights deal comparable in value to a previous five-year contract. The 11th edition of the PSL starts on March 26.
Despite the expansion, costs are also rising; last year, production costs exceeded PKR 1 billion. One media outlet in the bidding race was previously blacklisted and is not expected to make a strong bid, leaving the field open for a company linked to a PSL franchise.
Under PCB rules, any broadcast deal worth more than PKR 3 billion will set aside a portion of the surplus to sign iconic foreign players, with $500,000 set aside for that purpose. The remaining surplus is shared, with 80% going to the PCB and 20% to the franchises.
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