Pakistan Cricket Board (PCB) has incurred a massive revenue loss of close to USD 90 million in its last media rights deal because of the freezed bilateral cricket ties with India since 2008. In the last few years, Pakistan have played against arch-rivals India only in ICC tournaments due to the diplomatic tension between the two nations. Also Read - IPL 2020 Points Table Latest Update After MI vs KXIP, Match 36: Kings XI Punjab Beat Mumbai Indians to Take 6th Spot; KL Rahul Strengthens Lead Over Orange Cap
A reliable source said PCB’s last five-year deal, which expired this month, included two home series against India. The broadcasters who signed the contract worth 149 million dollars had a condition that the series would be held against India. Also Read - MI vs KXIP 2020, IPL Match Report: KL Rahul Shines as Kings XI Punjab Beat Mumbai Indians in Second Super Over to Keep Playoff Hopes Alive
“Unfortunately since Pakistan was unable to play the two home series against India as included in the agreement, Ten Sports and PTV the two broadcasters who had taken the rights deducted 90 million dollars of the total sum as per the agreement,” the source said. Also Read - IPL 2020 MATCH HIGHLIGHTS Match 36, MI vs KXIP 2020: Rahul, Mayank Power Kings XI Punjab to Thrilling Win vs Mumbai Indians in 2nd Super Over
The PCB also faced financial disagreements with its last broadcaster over the unscheduled home series against West Indies etc.
The source said that the PCB has already started exploring the market to get good money for its international home media rights deal either short or long term.
“The problem is that right now due to the Coronavirus pandemic the situation in the market is bad. In fact the situation for cricket broadcast rights has been poor since last December,” he said.
PCB Chairman, Ehsan Mani earlier this week in a podcast had said that the Board was mentally prepared to get bids which would be lower in price than what the Board anticipated.
Mani had insisted that although the PCB had suffered losses because of the absence of series vs India but they can survive without playing bitter neighbours.
(With Agency Inputs)