PCB risks financial hit as media rights auction falter for England Test series

PCB set $21 million reserve price for a three-year media rights deal, but bids fell significantly short of that mark

The Pakistan Cricket Board (PCB) has announced the revised schedule for the upcoming home Test series against England, with the first match set to begin on October 7 in Multan.

However, with just two weeks left before the series, the PCB has been unable to secure international media rights, which could result in a significant financial loss and prevent British fans from watching the matches.

According to sources, 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.

In an attempt to salvage the situation, the PCB conducted a re-tendering process solely for the home series against New Zealand and the women’s series against the West Indies.

This time, the joint bid from two Pakistani companies, amounting to just $99,000, emerged as the winning offer.

Despite the involvement of former ICC official Campbell Jamieson in the bidding process, the PCB did not benefit from his presence.

The board then attempted to sell international media rights for the 2024-26 period but received offers that were 50% lower than the previously rejected bids, forcing the process to be halted once again.

Traditionally, Sky Sports has been the broadcaster of Pakistan cricket in the UK, but this time they have shown no interest in purchasing the rights. 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 not only threatens the viewership of the series but could also result in a substantial financial hit for the PCB, raising concerns over the management of media rights deals in the future.