The auction for broadcasting rights of the Pakistan Super League (PSL) was intense, ending with a winning bid of 6.3 billion rupees. This is a big jump from the last deal, showing how much people value watching PSL games on TV.
At first, former rights owners, a state-owned TV channel, and two others bid, but none reached the set price of 7.358 billion rupees. This led to a second round of bidding, where the highest bidder from the first round added another billion rupees, securing the broadcasting rights for the next two years at a total of 6.30 billion rupees.
The Pakistan Cricket Board (PCB) approved the deal, with a condition that 95% of the money will go to PSL teams, giving them over 3 billion rupees each year. Digital rights were also bought for 1.85 billion rupees, showing how important online platforms are becoming for showing sports.
Only companies with their sports channels or rights from another channel could bid, as the PCB wanted experienced broadcasters. If the set price wasn’t met, the PCB could rethink or delay the whole process. But with a successful second round of bidding and a big offer from the winning channel, everyone agreed.
In the past, the TV rights’ set price was 3.7 billion rupees, and they were eventually sold for 4.3 billion rupees for two years. Surprisingly, the same group that had the rights before got them again, showing a lasting partnership.
Before the auction, the PCB asked an international company called ‘Colganbauer’ to figure out how much PSL’s TV rights were worth. They said it was 6 billion rupees, which set the starting point for the auction.