PCB fails to secure international media rights
- PCB failed to secure international media rights.
- Highest bid received was only half of the reserve price.
- PCB will explore other options for selling media rights.
The Pakistan Cricket Board (PCB) faced disappointment again in its attempt to secure international media rights. The latest bid received was only half the value of the previously canceled bid.
The PCB had set a high reserve price of around $21 million for the three-year international media rights, but no bidder could meet it. A consortium of a Pakistani media group and a private company, along with foreign companies Willow and Sports Five, participated in the bidding. Sports Five made the highest bid of $7.8 million.
The Pakistani company bid approximately $4.1 million, while Willow bid $2.25 million. Since the reserve price wasn’t met, the PCB proposed raising the price to the bidders for another round of bidding.
In the second round, Sports Five maintained their offer of $7.8 million, while the Pakistani company nearly doubled their offer to $7.85 million. However, the PCB rejected the bids again as they didn’t meet the reserve price.
A new tender was issued for the home series against New Zealand and the women’s series against West Indies. Both Pakistani companies collectively bid $99,000 (around 27.6 million Pakistani rupees), Willow bid $75,000, and Sports Five bid $50,000.
Recently, the PCB attempted to sell international media rights for a three-year period from 2024 to 2026, during which the Pakistan team will play 61 matches, including 11 Tests, 26 ODIs, and 24 T20Is.
The PCB’s expectations were not met again, with the offer being half of the previously canceled bid. Even a former ICC official couldn’t help. A joint bid from a Pakistani media group and a private company was around $3.5 to $4 million.
As a result, the PCB received an offer 50% lower than the previous rejected bid, leading to the cancellation of the process once again and the exploration of other options.
