In a significant move, the Pakistan Cricket Board (PCB) has successfully sold the Global Media Rights of the HBL Pakistan Super League (PSL) for a staggering amount of Rs. 1.26 billion. The auction saw six companies vying for the rights, with the winning bidder acquiring broadcast and live streaming rights outside Pakistan.
The decision to sell the rights separately was influenced by the government, allowing the management committee to focus solely on the PSL rights while maintaining restrictions on daily affairs. This departure from the usual practice of bundling international and domestic rights aimed to maximize revenue.
The winning bid amounted to $450,000 for the two-year rights, with $225,000 allocated for the first year alone, equivalent to approximately Rs. 63 crore. Despite three bid review opportunities, no company managed to meet the reserve price. However, the final amount surpassed the figures from the previous contract, reflecting a substantial 41% increase in the value of HBL PSL Global Media Rights compared to the previous year.
It’s noteworthy that this deal only covers the rights for the 9th and 10th editions of the league, departing from the previous inclusion of Pakistan team and HBL PSL matches in global media rights. The league is scheduled to kick off on February 17 in Lahore, featuring Lahore Qalandars as the defending champions. The successful auction marks a lucrative milestone for the PCB in the realm of cricket broadcasting rights.
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