The Pakistan Cricket Board (PCB) faced disappointment once more as their expectations for the sale of international media rights were not met. The board encountered a significant setback, with offers falling short of their anticipated value.
In the latest attempt to sell international media rights, the PCB received an offer that was half the amount of a previously canceled bid. This highlighted the challenges the board faces in securing favorable deals for its media rights.
Minimum Bid Price
The PCB had set a minimum price of $21 million for a three-year agreement. However, this goal was not reached. Sports Five placed the highest bid at $7.8 million, while a Pakistani company bid $4.1 million, and Willow offered $2.25 million.
Following the initial bids, the PCB decided to re-auction the rights. The Pakistani company then raised its bid to $7.8 million. Despite this increase, the PCB rejected the bid as it remained significantly lower than their expectations.
Maximum Bid Amount Received
Subsequently, the PCB issued a new tender for the home series against New Zealand and the women’s series against the West Indies. In this round, Pakistani companies offered $99,000, Willow bid $75,000, and Sports Five offered $50,000.
Looking ahead, the PCB re-auctioned the international rights for the period from 2024 to 2026. During this time, the Pakistani cricket team is scheduled to play 11 Test matches, 26 One Day Internationals, and 24 T20 matches. Despite these efforts, the PCB’s expectations were once again unmet, with the highest new bid being only half of the previously rejected highest bid.