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PCB’s Media Rights Bid Falls Below Expectations; Board Failing To Extract 50% Of Last Deal

PCB faces setback for media rights (x.com)PCB faces setback for media rights (x.com)

The Pakistan Cricket Board (PCB) has faced a major financial setback. In pursuit of selling its international media rights, their latest bid yielded only half of the value in comparison of the previous bid cancelled by the board.

The PCB is offering to sell its international media rights of a three-year period, ranging from 2024 to 2026. The aforementioned period will feature the Pakistani cricket team in action for 61 international matches, including 11 Tests and 50 other white-ball fixtures.


PCB’s media rights sale bid falls below expectations

The PCB set a reserve price of around $21 million for its international media rights of three years (2024 to 2026). Among several interested media groups and private companies, foreign media outlet Sports Five made the highest bid of $7.8 million.

Since PCB’s reserve price was not met, the cricket board initiated another round of bidding, where the Pakistani consortium raised a marginally higher bid of $7.85 million. As one can expect, the PCB rejected the offer as it fell way below the standard expectations.

Quite recently, yet another attempt was raised by the PCB in a bid to sell their international media rights. As per reports, the latest bidding yielded only half of the previously cancelled offer.

The Pakistan cricket team is set to play 11 Tests, 26 ODI and 24 T20I matches as part of their 61-match international commitment during the period 2024-2026. As of now, it remains to be seen how the PCB will tackle or remunerate the financial setback.