The Pakistan Cricket Board (PCB) was successful in finding a sponsor for the national team ahead of the series to be played on the tour of England but it was signed at a much lower price than expected. According to a reliable source, PCB has decided to sign a one-year contract with Transmedia.
The company has been buying various sponsorship and media rights in PCBs over the years. Transmedia is already paying Rs 15 crore (Pakistani) annually to PCB as an associate sponsor. The source said, ‘Transmedia has offered Rs 60 crore for a three-year deal for the main logo on the Pakistan team’s jersey and kit. After facing disappointment after several attempts, the board has now decided to sign a one-year contract for Rs 20 crore.
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 per cent of the previous amount for the new agreement but decided not to pursue the agreement. He said, “Top officials contacted global and local companies but the Covid-19 epidemic did not respond well.”