Media rights for HBL PSL sold for a whopping Rs. 1.26 billion
- HBL PSL media rights were sold separately from international rights for the first time.
- 2-year rights were sold for $450,000 ($225,000 for year 1).
- Only rights for 9th & 10th editions were sold.
The Global Media Rights for HBL PSL were traditionally sold in conjunction with international rights. The PCB was concerned that separating them might not generate a substantial revenue. However, this time, the government permitted the management committee to sell only the PSL rights while keeping daily operations limited, necessitating separate sales.
Six firms took part in the bidding process, and the company that frequently secures PCB contracts won the broadcast and live streaming rights for regions outside Pakistan.
Sources indicate that the two-year rights were sold for $450,000 (around Rs. 1.26 billion), with the first year accounting for $225,000 (roughly Rs. 63 crore).
For the first time, three opportunities to review bids were provided, but no company could meet the reserve price. Nevertheless, the amount increased relative to the previous contract. The PCB has announced a 41% increase in the value of HBL PSL Global Media Rights compared to the previous year. Previously, the global media rights included both the Pakistan team and HBL PSL matches. This time, only the rights for the 9th and 10th editions of the league were sold. It’s worth noting that the event will kick off on February 17 in Lahore, with Lahore Qalandars entering as the defending champions.
