The Pakistan Cricket Board has finalized the most expensive media rights deal in HBL Pakistan Super League history, selling four-year broadcast and digital rights to Walee Technologies for Rs26 billion. The agreement guarantees the board an annual inflow of approximately Rs6.5 billion, marking a significant increase from the previous two-year rights deal, which was valued at Rs6.5 billion annually. Walee Technologies, which also owns the Pindi franchise, is expected to broadcast matches through the state-run television network alongside digital streaming platforms.
Three companies participated in the competitive bidding process. Two contenders vied for broadcast rights, while one company submitted a bid solely for digital streaming. Walee Technologies submitted a combined bid totaling Rs26 billion, surpassing the reserve price of Rs23.5 billion, which had been divided into Rs16.5 billion for television and the remainder for live streaming. Other participants included a private sports channel that offered Rs9 billion for TV rights only and another company bidding Rs3.5 billion for digital rights.
The board had issued an advertisement for the four-year PSL media rights, attracting significant interest. However, two major sports channels were disqualified from the bidding process due to outstanding dues exceeding Rs470 million and Rs600 million, respectively. Even after being granted time to settle their payments, both parties failed to comply, and a subsequent review committee rejected one channel’s late request. To prevent potential collusion, consortium bids were not permitted in this cycle. Companies could bid for television rights, digital streaming, or a combination, with a bid security of Rs100 million required for each category. The winning bid will be adjusted accordingly, while unsuccessful bidders will receive refunds.
The upcoming 11th edition of the PSL, which begins on March 26, will feature 44 matches, including two additional teams, up from 34 matches in the previous season. Regulations stipulate that once production expenses are deducted, any media deal exceeding Rs3 billion allows for an additional $500,000 allocation to secure icon foreign cricketers. Of the remaining revenue, 80% goes to the PCB and 20% is distributed among franchises. Last year, production expenses exceeded Rs1 billion, highlighting the scale of investment required to broadcast the league effectively.
A bank guarantee of Rs6.5 billion has been obtained from Walee Technologies to secure the deal and ensure timely payment, addressing concerns over outstanding dues that affected previous media rights agreements. The investment is expected to bolster coverage, improve production quality, and expand access for viewers across television and digital platforms, reflecting the growing commercial value of the PSL and its increasing appeal to corporate sponsors and audiences.
The landmark deal underscores the Pakistan Super League’s growing commercial potential and positions Walee Technologies to capitalize on both broadcast and digital audiences, as cricket viewership continues to expand domestically and internationally.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.