The PSL has signed a two-year broadcast deal worth USD 24 million with local sports channels A Sports and PTV Sports.
The deal, according to the PCB, represents a 50% increase on the last cycle. That deal was worth USD 36 million over three years, but including international rights as well. This time round, the international broadcast rights for the league were sold separately; the 50% increase represents that difference as well as a weakening rupee against the dollar.
In any case, the PCB will be understandably pleased with the result, not least because three local channels were among the leading bids, an upturn in what had for some time looked like a flagging local broadcast scene: the winners of the bid - a consortium of ARY which owns A Sports and the state-owned PTV - and the second-highest bidders, Geo Sports.
The deal also comes only a couple of months after the PCB and PSL franchises finally agreed on a new financial model. That resolution had been a long time coming and indeed, at various moments, did not look like it would be reached at all, representing an existential threat to the league itself.
Incidentally, the owners of A Sports - the ARY group - also own Karachi Kings, one of the six PSL franchises.
The deal covers the 2022 and 2023 seasons, respectively the seventh and eighth editions of the league.
"The extraordinary interest and increase in the TV broadcast rights of the HBL Pakistan Super League underscores how popular the tournament has become despite being launched just six years ago," PCB's acting CEO Salman Naseer said.
"I want to thank the consortium of ARY and PTV for valuing the biggest product of Pakistan cricket, which has become a source of inspiration for thousands of young children to take up the sport."
Internationally, the PSL has a three-season deal with broadcasters in the UK, North America, New Zealand, South Africa and the Caribbean.