PSL broadcasting rights sold out for Rs 6.3 billion

By our correspondent
LAHORE: The PSL franchises would be on the moon as the country’s marquee league’s broadcasting rights have been sold out for a whopping amount of Rs 6.3 billion.
“Yesterday there was our domestic broadcast and live streaming sale for the PSL 9 and PSL 10 for the Pakistan’s territory and we were a bit scared in the start keeping in the view the economic situation of Pakistan but we were at the same time sure also that being a strong brand it will pull off a big value and thanks God we got a great price,” the league commissioner Naila Bhatti told a news conference here on Wednesday.
Also were present the Pakistan Cricket Board (PCB) Management Committee chairman Zaka Ashraf and the PCB Chief Operating Officer Salman Naseer.
There were four bidders including Geo Super, Ten Sports, ARY Sports and PTV Sports. ARY led the race with the highest bid in the second round. It was 47 to 48 percent more than the last time. It was an excellent bid. In our bid committee franchises were also a part as they get the lion’s share and they were very happy,” Naila said.
“And our next bid was of live streaming and Islamabad-based Walee Technologies bidded aggressively and it was 113 percent more than the last bid cycle,” Naila said.
“I think it was a wonderful achievement and it goes to show that PSL is a brand and how it has extended its canvas and how people love to be associated with it,” Naila said.
“The live streaming exceeded the base price while the broadcast bid did not exceed. We had kept Rs 7 billion as its base price while the upper bid was 6.3 billion,” Naila said.
“Before this we had made its valuation through an international company and the bid was Rs 1.5 billion more than the valuation,” Naila said.
Meanwhile the PCB Management Committee chairman Zaka Ashraf also was happy with the solid bid.
“Its great blessing that our PSL broadcast rights have been sold Rs 3 billion more than the last year which I think is a remarkable achievement,” Zaka said.
“I think it’s the highest in our history. I will give credit to my team and the bid committee as they are the main people who worked really hard,” Zaka said.
“Franchises get 95 percent from the PSL broadcast rights sale and the five percent goes to the PCB but we are happy that franchises have invested in the league. We want them to flourish economically so that it could also attract others when we will go for expanding the league,” Zaka said.