PCB Fails to Sell International Media Rights On Expected Valuation

Pakistan Cricket Board (PCB) has faced another setback in its efforts to sell international media rights, with bids falling significantly short of expectations.

The apex cricket board had set a reserve price of $21 million for a three-year contract covering international media rights, but none of the bidders met this amount.

Moreover, the bidding price by the local and foreign companies was half the price of the expected valuation of $21 million during the bidding war.

A consortium formed by a Pakistani media group and a private company, along with foreign firms Willow and Sports Five, participated in the bidding process.

Sports Five made the highest initial bid at $7.8 million, while the Pakistani consortium bid $4.1 million, and Willow offered $2.25 million.

Given that the reserve price was not met, the PCB invited a second round of bids. In this round, Sports Five maintained their $7.8 million bid, while the Pakistani consortium increased their offer to $7.85 million. Despite the increase, the PCB rejected these bids as they still fell short of the reserve price.

Following this, a new tender was issued for a specific series against New Zealand and the West Indies women’s team. The Pakistani consortium bid approximately $99,000, Willow bid $75,000, and Sports Five bid $50,000.

Recently, the PCB attempted to sell international media rights for the 2024-2026 period, during which the Pakistan team is scheduled to play 61 matches, including 11 Tests, 26 ODIs, and 24 T20Is.

Once again, the bids received were only half of a previously canceled bid. This led to the PCB deciding to cancel the process and explore alternative options.