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PCB Compromises For A PKR 2.75 Crore Broadcasting Deal After Lack Of Bidders For An Ask For 58.36 Cr

Pakistan will host Zealand later in April (x.com)Pakistan will host Zealand later in April (x.com)

In another embarrassing event for the Pakistan Cricket Board (PCB), after already having to play a third-string New Zealand team, the board ended up with a shocking loss on the international media rights for the next two series as they failed to attract bids.

PCB, initially, looked to attract an exciting offer for a three-year deal. The board wanted PKR 28.36 crores, i.e., approximately $7 million/year for three years. However, with the lack of interest in the bidders, they decided to sell rights for the next 13 matches, which included 5 men's and 8 women's games. 

These 13 games received a bid of a mere PKR 2.75 crores from Willow and Sports Five.

After wanting to get a bid of $21 million for three years, the best offer they could get was PKR 21.8 crores i.e., $7.85 million for the same duration from Sports Five. Considering this offer was just over 1/3rd of their initial ask, PCB rejected this offer.

With the time running out of their hands and having rejected a better deal, the decisions had to be quick as they play New Zealand from April 18. So, in the end, PCB decided to go ahead with the 2.75 crore offer from Willow and Sports Five for the next 13 games.

Pakistan will host New Zealand men for a 5 T20I series and West Indies women for 3 ODIs and 5 T20Is in the coming days while basically just earning pennies.