The Pakistan Super League’s (PSL) broadcasting rights for the next two years have been auctioned for the “highest” amount in the league’s history, according to Zaka Ashraf, the head of Pakistan Cricket Board (PCB) Interim Management Committee.

“The bidding for the PSL broadcasting rights has seen an increase of Rs3 billion more this time, which is the highest in the league’s history,” Ashraf said in a press conference today in Lahore without mentioning the exact figure.

In 2021, the PSL’s previous two-year broadcasting deal had fetched the PCB Rs4.35bn. It means that if the Rs3bn reported by Ashraf are added to the previous deal’s figures, the current deal could be worth a staggering Rs7.35bn or around $26m.

Sharing details about the bidding process, PSL Commissioner Naila Bhatti said that the sale of domestic broadcast rights for PSL within the Pakistani territory took place on Tuesday.

“It was a positive day for the PCB yesterday as we successfully concluded the domestic broadcast rights deal for PSL season 9 in Pakistan,” she added.

As you know the economic situation of Pakistan is concerning, but the PSL brand has grown so much and it has the power to fetch impressive price value for its brand, she said.

Bhatti disclosed that there were four bidders, namely Geo Sports, Tower Sports, PTV Sports, and ARY Sports, with ARY Sports emerging as the frontrunner with the highest bid during the second round. She noted, “ARY elevated its bid by 47-48 per cent compared to the last bidding cycle.” The board official, however, did not share the bidding amount.

She highlighted that a significant portion of the revenue from such ventures goes to the owners, adding that the franchise owners had expressed satisfaction with the bid.

Emphasising the success of the livestreaming bid, she mentioned that Wali Technologies (WT) submitted an “aggressive bid” that surpassed the previous bid cycle by 113pc.

To a query, Ashraf stated that 95pc of the amount goes to franchise owners, while 5pc goes to the PCB.

He added, “If they achieve financial success, it would bring us great satisfaction.”

Ashraf also pointed out that financial gains for franchise owners could serve as an incentive and bring more investors in the league.