Private TV Channel Wins PSL Broadcasting Rights for Rs. 6.3 Billion

Private TV Channel Wins PSL Broadcasting Rights for Rs. 6.3 Billion

VoM News Desk | January 11, 2024 | 08:09 PM IST | Pakistan News, Sports | Follow on Google News

Private TV Channel Wins PSL Broadcasting Rights for Rs. 6.3 Billion

Private TV Channel Wins PSL Broadcasting Rights for Rs. 6.3 Billion

In a highly competitive bidding process, a private TV channel secured the broadcasting rights for the Pakistan Super League (PSL) for a staggering amount of 6.3 billion rupees. This marks a significant increase of 2 billion rupees compared to the previous deal. The bidding began with a minimum price of Rs. 7.358 billion, with the winning channel increasing its offer by one billion rupees in the second round.

The Pakistan Cricket Board (PCB) approved the deal, allocating 95% of the funds to PSL franchises, translating to over Rs. 3 billion annually for the franchises. Additionally, digital rights were separately acquired for Rs. 1.85 billion. Notably, the PCB restricted participation in the bidding to companies with their own sports channels or rights from another channel.

For context, the minimum price for the previous contract was Rs. 3.7 billion, eventually sold for Rs. 4.3 billion for two years. The same entity has once again secured the broadcasting rights, maintaining its presence in the PSL media landscape. The substantial increase in the new deal reflects the growing popularity and commercial value of the PSL.

VoM News Desk

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