Islamabad, Aug 24: The broadcasting rights for the Pakistan region from August 2024 to December 2026 were recently sold by the Pakistan Cricket Board (PCB) for Rs1.72 billion, a substantial discount from the reserve price of Rs 3.2 billion, according to reports.
A group led by Tower Sports and ARY was granted the rights for the forthcoming 28-month season, which consists of 11 Tests, 26 ODIs, and 24 T20Is.
An offer that was Rs1.48 billion less than the reserve price was accepted by the PCB in spite of holding a “transparent tender process.” Despite not raising its proposal, Pakistan Television (PTV) had made an offer of Rs1.6 billion, which allowed the consortium to secure the rights.
PTV eventually obtained a Rs 500 million sub-licensing agreement from the consortium, which turned a profit for both PTV and the consortium.
The PCB, according to critics, could have canceled the offer and reissued it with the intention of meeting or surpassing the reserve price. The PCB, however, decided to accept the lower offer.
Before being increased back to Rs3.2 billion, the reserve price had previously been lowered to Rs2.2 billion.
The PCB has stated that the rights were sold for more than twice the sum of the previous cycle, but it has declined to reveal the precise specifics of the bids, citing confidentially.
On the other hand, such financial information can be made public under PEMRA regulations.
