Pakistan Super League (PSL) has bagged a huge broadcasting deal worth Rs 6.3 billion Rupees. This represents a significant increase of Rs 2 billion over its previous contract.
A-Sports emerged triumphant after a rigorous competition, outbidding three other contenders to secure the broadcasting rights for the upcoming ninth edition of the tournament. The financial bids, unveiled just yesterday with a starting reserve price of Rs. 7.358 billion.
The initial round of bidding saw the previous rights holder placing a bid of Rs. 5.30 billion, closely followed by the state-owned channel and two additional contenders offering Rs. 5.17 billion, Rs. 4.40 billion, and Rs. 4 billion respectively. However, as none met the reserve price, a second round of intense bidding sessions was initiated.
In the second round, the frontrunner from the initial round bolstered their bid by a staggering one billion rupees, securing the rights for Rs. 6.30 billion over a two-year period. The Pakistan Cricket Board (PCB) gave the nod to this arrangement, allocating a substantial 95% of the revenue to the PSL franchises, equating to an annual disbursement surpassing Rs. 3 billion. Furthermore, the standalone sale of digital rights raked in an additional Rs. 1.85 billion.