October 19, 2020
Cricket News

PCB on the verge of bankruptcy, ropes in sponsor for England tour at a lower price

PCB on the verge of bankruptcy, ropes in sponsor for England tour at a lower price

The Pakistan Cricket Board (PCB) managed to find a sponsor for the national team ahead of the tour of England, but this was done at a much lower price than expected. According to sources, PCB has decided to sign a one-year contract with Transmedia. The company has been buying various sponsorship and media rights in PCB over the years.

Transmedia is already paying Rs 15 crore (Pakistani rupee) annually to PCB as an associate sponsor. The source said, “Transmedia has offered 600 million rupees for a three-year deal for the main logo on Pakistan team’s jerseys and kits. The Board after facing disappointment on several fronts has now decided to sign a one-year deal for 200 million rupees on a pro-rata basis,”

The source said that the PCB may auction the logo rights again next year. Earlier, Pepsi had a three-year deal worth $ 5.5 million (about Rs 91 crore Pakistani rupees), which expired last month.

According to the source, the company wanted to pay only 30 percent of the previous amount for the new agreement, but decided not to pursue the agreement. “It is disappointing the way things have gone as far as marketing is concerned because the top officials had contacted different multi-national and top brand local companies to sell the logo rights but they didn’t get a good response due to the Covid-19 situation,” the source said.

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