The Pakistan Cricket Board (PCB) recently sold its broadcasting rights for the Pakistan region from August 2024 to December 2026 for Rs 1.72 billion, significantly lower than the reserve price of Rs 3.2 billion.
According to sources, the rights were awarded to a consortium of ARY and Tower Sports for the upcoming 28-month season, which includes 11 Tests, 26 ODIs, and 24 T20Is.
Despite conducting a “transparent tender process,” the PCB accepted a bid Rs 1.48 billion below the reserve price. Pakistan Television (PTV) had offered Rs 1.6 billion but did not increase its bid, allowing the consortium to win the rights.
PTV later secured a sub-licensing deal from the consortium for Rs 500 million, resulting in profits for both PTV and the consortium. The reserve price had initially been reduced to Rs 2.2 billion before being raised back to Rs 3.2 billion.
Critics argue that the PCB could have canceled the tender to reissue it, aiming to meet or exceed the reserve price but the apex cricket board of the country chose to proceed with the lower offer.
The PCB has refused to disclose the specific details of the bids, citing confidentiality, but confirmed that the rights were sold for more than double the amount of the previous cycle.
However, under PEMRA regulations, such financial details could be shared with the public.