Pakistan Cricket Board (PCB) has announce the schedule for a three-match Test series against England, set to begin from October 7.
As less than a month remains for the series, the PCB is unable to find a partner for the media rights, which might possibly result in a significant financial loss and keep the fans of other countries from watching the game.
PCB was unable to get the media rights during the Pakistan vs Bangladesh two-match Test series as well, which hence resulted in the match not being broadcasted outside Pakistan.
“The PCB had initially set an ambitious reserve price of approximately $21 million for a three-year international media rights deal, but no bid came close to meeting this figure. The highest offer came from the foreign company Sports Five, which bid $7.8 million. A joint bid from two Pakistani companies amounted to around $4.1 million, while Willow TV offered $2.25 million. All bids were rejected as they fell short of the reserve price” reported Pakistan Cricket.
The PCB started a re-tendering process, specially for the home series against New Zealand along with the women’s series against West indies. A joint bid of $99,000 was taken as an ultimate offer.
As per Cricket Pakistan sources indicate that with time running out, the PCB may be forced to sell the rights at a significantly lower price to avoid a blackout in the UK.
The current situation does not only threaten the viewership of the series, but can potentially result in a financial hit to the PCB. This financial hit is sure to raise concerns with the management of media rights deals in the future.
