Monitoring Desk<\/p>\n
As sportsmen battle it out on the field, the businessmen behind PSL seem to have already emerged as clear winners. Still, two variables stand in between them and the real big bucks: getting a grip on corruption and being able to play PSL at home.
\n\u201cFrom a corporate perspective, Pakistan Super League has all the ingredients to become the biggest brand in Pakistan, bigger than any other sports and entertainment brand currently on display,\u201d Chief Operating Officer (COO) of Islamabad United, ShoaibNaveed told Profit days before the start of PSL 2.
\nLittle did he know, players from his own franchise would put the league\u2019s very future at stake just when the second season kicked off.
\nThe match-fixing scandal, which rocked the lucrative league on its second day became international news after the Pakistan Cricket Board (PCB) suspended United\u2019s Sharjeel Khan, the star of PSL\u2019s first season, along with teammate Khalid Latif for the duo\u2019s alleged involvement in fixing. Few days later, former opener NasirJamshed was arrested along with a bookie from London in connection with the same case.
\nAs we write this report, Mohammad Irfan, also a United player, remains under investigation while NasirJamshed \u2013 not part of any PSL team \u2013 was identified as the link between the two suspended United players and the bookie. Both Nasir and Yousaf (bookie) were subsequently arrested in London and released on bail to appear in a UK court in April. It is still however too early to comment on how the whole scandal will affect the growing popularity of PSL, which experts say can become one of Pakistan\u2019s largest brands in years to come.
\nAmidst all the brouhaha, at least one thing is certain that the stakes are high and PSL means business to every stakeholder. The PCB\u2019s swift response to the incident sends a clear message: there is zero tolerance for anything that can hold PSL back or stand in its way to success.
\nTo understand what is at stake and what is driving all this optimism in the first place and criticism that follows, Profit takes a detailed look at the brand PSL, whose very launch \u2014 let alone success \u2014 was in doubt until it picked up momentum in the second half, courtesy some spectacular cricket, which pulled huge audience to the grounds and back home on TV.
\nThe defending champions, Islamabad United is a case in point when it comes to commercial success of a PSL franchise. Ali Naqvi and AmnaNaqvi of Leonine Global Sports bought United for $15 million, the second lowest bid price for a PSL franchise, but the team went on to claim the title in the inaugural edition \u2014 and this was not the only thing it won.
\nIn other words, this marriage of business with the country\u2019s most sought-after sport opened up new opportunities for franchise owners, which range from building a valuable property to international fame and offers from big businesses lining up for sponsorship rights \u2014 that seems to be the case with Naqvis, at least.
\nBacked by powerful brands, the likes of Qmobile, Pakistan Telecommunication Company, JS Bank, and Igloo to name but a few, United now boosts a Facebook fan following of 2.8 million, highest for any PSL franchise \u2014 the list doesn\u2019t not include a host of secondary and tertiary sponsors.
\nGiven that it was bought for a lower price, United benefited the most in terms of appreciation in its brand value. According to PCB, each franchise saw its value more than double on the back of PSL\u2019s growing popularity. According to a report by Dawn, the PSL chief NajamSethi said they have received offers for a sixth franchise and the amount quoted was double the average price ($18.6 million) of the first five franchises who bought the rights for 10 years.
\nA market survey by Profit, which includes background interviews of officials from franchises, PCB and advertising agencies, suggest that the value of United and Quetta Gladiators (the finalists of PSL1 ) has increased three-folds.<\/p>\n","protected":false},"excerpt":{"rendered":"
Monitoring Desk As sportsmen battle it out on the field, the businessmen behind PSL seem to have already emerged as clear winners. Still, two variables stand in between them and the real big bucks: getting a grip on corruption and being able to play PSL at home. \u201cFrom a corporate perspective, Pakistan Super League has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-13282","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n