The financial bid of the Pakistan Super League (PSL) broadcasting rights will open on Tuesday. Prior to this, a decision will be made on the reserve price, and according to sources, a reserve price of 6 to 7 billion rupees will be set for a two-year period of rights.
PCB has granted permission only to those companies to participate in this year’s bidding who have their own sports channels or have acquired rights from another channel. There are currently 4 channels in the running.
The largest bidding organizations will be awarded rights in the bid. In case the reserve price is not met, PCB has the authority to either reconsider the bids or delay the entire process. The previous contract was valued at 2 billion rupees, but later the reserve price was increased to 3.7 billion rupees. Rights for a two-year period were sold for 4.3 billion rupees. PCB has secured the media rights value from the international company, ‘Colganbauer’, which is valued up to 6 billion rupees.
Sources revealed that rights can be sold for up to 6.5 billion rupees this time, surpassing the previous deal. Of this, 95% of the share will belong to PSL franchises. In light of the prohibition on surrogate advertising, franchises are concerned about experiencing a decline in their revenue. Consequently, franchises are pinning their hopes on broadcasting rights as a crucial revenue stream to offset these losses. However, considering the rising value of the dollar, the benefit in terms of rupees may not be significant. It will likely be close to or slightly higher than the previous deal. Franchises have to spend money in dollars for players’ payments and production.
On the other hand, this time, the cricket board has not linked PSL’s international rights with its other cricket, so the possibility of getting a higher amount is unlikely. It should be noted that the management committee has been bound by the government to obtain approval before any decision and has got permission to sell PSL rights with great difficulty.
