Islamabad
\nThe Pakistan Super League (PSL) has finalized the most expensive media rights deal in its history, selling its four-year media rights to Walee Technologies for Rs. 26.11 billion.
\nUnder the agreement, the Pakistan Cricket Board (PCB) will receive approximately Rs 6.5 billion annually.
\nWalee Technologies, which also owns the Rawalpindi (Pindi) franchise, submitted the highest combined bid covering both television broadcast and digital live-streaming rights. Matches are expected to be broadcast on the state-run television network.
\nThree companies participated in the bidding process. Two competed for television broadcast rights, while one bid solely for digital streaming rights.
\nWalee\u2019s combined offer of Rs. 26 billion exceeded the reserve price of Rs 23.5 billion, which included Rs. 16.5 billion for TV rights and the remaining amount for live streaming.
\nA private sports channel bid Rs. 9 billion for television rights only, while another company offered Rs. 3.5 billion for digital rights.
\nThe PCB had recently advertised the four-year PSL media rights, attracting several interested parties. Two major sports channels had planned to participate but were disqualified due to unpaid outstanding dues.
\nOne channel reportedly owed Rs. 470 million, while the other had liabilities exceeding Rs. 600 million. Despite being given time to clear the payments, both failed to do so. On Friday, the review committee also rejected a request submitted by one of the disqualified channels.
\nTo prevent alleged collusion among broadcasters, the PCB did not allow consortium bids in this cycle. Companies were permitted to bid separately for television rights, digital rights, or both.
\nThe bid security for each category was set at Rs. 100 million. The security amount submitted by the winning bidder will be adjusted, while unsuccessful bidders will receive refunds.
\nLast season, the PSL featured 34 matches. With the addition of two new teams, the total number of matches will increase to 44. According to league regulations, if a broadcast deal exceeds Rs. 3 billion after deducting production expenses, an additional $500,000 will be allocated for signing foreign icon players.
\nFrom the remaining revenue, 80 percent will go to the PCB, while 20 percent will be distributed among franchises.
\nProduction costs exceeded Rs. 1 billion last year. The 11th edition of the PSL is scheduled to begin on March 26.
\nIt is worth noting that the previous two-year television rights deal was valued at Rs. 6.5 billion annually, though the PCB is still awaiting payment of a significant outstanding amount.
\nTo safeguard against non-payment this time, the board has obtained a bank guarantee of Rs. 6.5 billion from the successful bidder, which can be encashed if payments are not made.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The Pakistan Super League (PSL) has finalized the most expensive media rights deal in its history, selling its four-year media rights to Walee Technologies for Rs. 26.11 billion. Under the agreement, the Pakistan Cricket Board (PCB) will receive approximately Rs 6.5 billion annually. Walee Technologies, which also owns the Rawalpindi (Pindi) franchise, submitted the […]<\/p>\n","protected":false},"author":2,"featured_media":534172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-534162","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"yoast_head":"\n