The reserve price for the rights will be decided, with a speculated value of 6 to 7 billion rupees for a 2-year period.
LAHORE: (UrduPoint/Pakistan Point News-Jan 9th, 2024) The hope is to fill the coffers through broadcasting rights for the 9th edition of the Pakistan Super League (PSL).
The reserve price for the rights will be decided, with a speculated value of 6 to 7 billion rupees for a 2-year period. Only companies with their sports channels or rights from other channels are permitted to participate in this year's bidding.
The auction includes major organizations in the running with a possibility for PCB to reconsider if reserve prices aren't met or delays occur in the process. The previous deal was initially valued at 2 billion rupees but later increased to 3.7 billion rupees.
Additionally, rights for a 2-year period were sold for 4.3 billion rupees. PCB has secured media rights from international company Cologne Bauer for up to 6 billion rupees. There's a chance of selling the rights for as much as 6.5 billion rupees, with 95% of the share going to PSL franchises.
The franchises are concerned about facing a decrease in revenue due to restrictions on surrogate advertisements. To overcome potential losses, franchises are pinning their hopes on broadcasting rights, especially through a regional streaming platform.
However, the rising Dollar value may not be advantageous in terms of rupees. It's likely that the potential deal will be close to or slightly higher than the previous agreement.
Franchises have to spend in Dollars for players' performances and production, making it challenging to benefit from the increasing dollar rate.
On the other hand, the cricket board hasn't combined PSL's international rights with its other cricket, reducing the likelihood of a higher payout.
It may be mentioned here that the government has bound the organizing committee to obtain approval before making any decisions, and obtaining permission to sell PSL rights has been a challenging process.
