Lahore, 11 January, 2024 (GNP): In a recent announcement by Zaka Ashraf, Chairman of the Pakistan Cricket Board (PCB) Managing Committee, it was revealed that the broadcasting rights for the 2024 and 2025 editions of the Pakistan Super League (PSL) have seen a substantial increase in value.
The live-streaming rights experienced a remarkable 113 percent surge, while the broadcast rights witnessed a substantial 45 percent increase.
The allocation of PSL TV broadcast media rights for 2024-2025 was conducted through a transparent and merit-based tender process. Zaka Ashraf emphasized the participation of prominent contenders in the bidding process, ensuring fairness and competitiveness.
Walee Technologies secured the live-streaming rights with a robust bid, contributing to the impressive increase in value compared to the preceding two years.
The PCB received bids from a total of five entities, reflecting the growing interest and value associated with PSL broadcasting rights.
Zaka Ashraf highlighted that franchises would receive 95 percent of the proceeds from the PSL broadcast rights sale, with the remaining five percent going to the PCB.
Expressing contentment with franchise investments in the league, he conveyed a desire for their economic prosperity to attract further interest, possibly leading to league expansion.
League Commissioner Naila Bhatti initially expressed concerns given Pakistan’s economic situation but remained confident in the strong brand of the league, anticipating significant value.
Grateful for the outcome, Naila mentioned, “The live streaming exceeded the base price, while the broadcast bid did not exceed. We had set Rs7 billion as its base price, and the upper bid was 6.3 billion.”
The increased value of PSL broadcasting rights reflects the league’s growing stature and popularity, setting the stage for an exciting and prosperous future.