For three years, the Pakistan Cricket Board has had to face failure in selling international media rights at its desired price. The latest bid has reached half of the safe and expected range.
The PCB had reserved a minimum price of $21 million for the three-year contract. It was not possible to obtain such amount. Apart from a consortium of a Pakistani media group and a private company, foreign companies Willow and Sports Five participated in the bid.
Sports Five placed the highest bid at $7.8 million. The Pakistani consortium’s bid was $4.1 million while Willow’s bid was $2.25 million. When the secured price could not be achieved, the PCB bid again. This time the Pakistani consortium increased its bid to 785 million dollars.
The Pakistan Cricket Board also rejected this bid by the Pakistani consortium as it was far below expectations. A new tender was then issued for the home series against New Zealand and the women’s series against the West Indies.