Record-breaking PSL media rights deal on the cards

KARACHI: The Pakistan Cricket Board (PCB) could be on the verge of securing the most lucrative commercial deal in the country’s cricketing history, with a potential four-year Pakistan Super League (PSL) media rights agreement valued at up to Rs18 billion.

According to sources, a company that already owns a PSL franchise is preparing to table a record-breaking bid of around Rs4.5 billion per year for the league’s broadcast rights. If finalised, the four-year agreement would be worth approximately Rs18 billion, making it the biggest deal ever struck in Pakistan cricket.

The PCB had issued a tender for the next four-year cycle of PSL media rights, inviting bids for both television broadcast and live streaming. Multiple parties initially expressed interest, including two major sports channels. However, both were disqualified after failing to clear outstanding dues.

One channel reportedly owes around Rs4.7 billion, while the other has liabilities exceeding Rs600 million. Despite being granted time to settle payments, neither fulfilled the requirements, prompting the board to send formal disqualification notices.

With consortium bids disallowed this time — a move aimed at preventing alleged collusion between broadcasters — the field appears clear for the franchise-owned company to dominate the process. Should it win the rights, the company is expected to use the state broadcaster’s platform for coverage.

The reserve price for broadcast rights has not been officially disclosed, but estimates suggest it could be close to Rs18 billion. Meanwhile, the live streaming rights alone could fetch up to PKR 7 billion, with a likely reserve price of around PKR 6 billion.

Under the tender terms, companies may bid for either or both categories. Each requires a bid security of Rs100 million, which will be adjusted for the winning bidder and returned to unsuccessful participants.

The value of the deal is further boosted by the PSL’s expansion. The league featured 34 matches last season, but with the addition of two new teams, the number will rise to 44 matches per season.

The 10 additional matches each year effectively enhance the value of the four-year cycle to match what would previously have been a five-year package.

As per regulations, after deducting production costs — which exceeded Rs1 billion last year — any broadcast deal exceeding Rs3 billion will allocate $500,000 towards signing marquee overseas players. Of the remaining additional revenue, 80 per cent will go to the PCB and 20 per cent to the franchises.

Another media channel participating in the bidding process had previously been blacklisted, and sources suggest it is unlikely to submit a competitive offer, further strengthening the franchise-owned company’s position.

The 11th edition of the PSL is scheduled to begin on March 26.