PSL broadcasting rights sold for Rs6.3bn

LAHORE: The HBL PSL broadcasting rights have been sold for a whopping amount of Rs6.3 billion.

The Pakistan Cricket Board (PCB) Managing Committee Chairman Zaka Ashraf revealed here on Wednesday that there has been significant surge in the value of both live-streaming and broadcast rights for the 2024 and 2025 editions of the Pakistan Super League.

There is a remarkable 113 percent increase in the value of live-streaming rights and a substantial 45 percent increase in the value of broadcast rights, Zaka said while addressing a press conference at the Gaddafi Stadium, Lahore.

He claimed that a transparent and merit-based tender process was diligently followed to award the PSL TV broadcast media rights for 2024-2025. The bidding process involved prominent contenders, he added.

Similarly, Walee Technologies claimed the live-streaming rights, presenting an aggressive bid that resulted in an outstanding 113 percent increase in value compared to the previous two years. The Pakistan Cricket Board (PCB) received the bids from five entities.

“It is a great blessing that our PSL broadcast rights have been sold Rs3 billion more than the last year which I think is a remarkable achievement,” Zaka said.

“Franchises get 95 percent from the PSL broadcast rights sale and five percent goes to the PCB but we are happy that franchises have invested in the league. We want them to flourish economically so that it could also attract others when we will go for expanding the league,” Zaka said.

“We were a bit scared at the start keeping in view the economic situation of Pakistan but we were at the same time sure that being a strong brand, it will pull off a big value. Thanks God, we got a great price,” the league commissioner Naila Bhatti said on the occasion.

“The live streaming exceeded the base price while the broadcast bid did not exceed. We had kept Rs7 billion as its base price while the upper bid was 6.3 billion,” Naila said.