Pakistan Cricket Board has finally managed to rope in a sponsor for the national team jersey. Albeit at an unbelievable low value.
To put things in perspective what the PCB will be getting per annum from this hugely compromised deal, the Board of Control for Cricket in India gets for just two bilateral games from Byju’s.
The reported $1.2 mn (Pakistani Rupee 200 mn) one-year deal with Transmedia will come into effect from Pakistan cricket team’s three-Test series in England.
“Transmedia has offered 600 million (Pakistani) 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 (Pak) rupees on a pro-rata basis,” the source said.
“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,” he said.
It is a mere 30% of what the PCB was getting from its previous deal with global aerated water brand Pepsi.
PCB’s previous sponsorship deal with a beverage company was valued around $ 7.53mn (Pakistani rupee 1,250 mn) for a period of three years. After adding other sponsorships, the value had reached around $10.84 mn (Pakistani rupee 1,800 mn).
Pepsi had declined to renew its contract.
The PCB had set the reserve price for the new deal $ 6 mn (Pakistani rupee 1 billion) but it failed to get desired interest.
Pakistan will play three Tests and as many T20 Internationals on its tour of England during August and September.