The Pakistan Cricket Board (PCB) has finally managed to find a sponsor for the national men’s cricket team, but the board had to settle for a far less amount than what it usually gets and envisaged.
The Pakistan cricket team is currently without a sponsor after the PCB’s three-year deal worth up to USD 5.5 million with Pepsi for the main logo on Pakistan team's jerseys and kits expired last month.
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It is being said that the American beverage company chose not to renew the contract with PCB, though offered a new team logo sponsorship deal but the amount was around 30 percent of the USD 5.5 million amount for the new contract in the wake of Coronavirus pandemic, but the board refused it.
However, the PCB has managed to rope in a sponsor ahead of the England series starting later this month, as the board has reportedly signed a one-year contract with Transmedia, a company which has already been paying up to Rs 150 million annually to PCB for being their associate sponsors.
A reliable source has revealed that Transmedia that has been buying various sponsorship and media rights for the last few years has offered a three-year deal for the main logo but the PCB decided to sign a one-year deal for 200 million rupees looking at the current circumstances and the board could rebid for the logo rights next year, as the offer was a mere fraction of the money it usually gets.
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As per PTI, 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.”
He further added, “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.”
(With PTI Inputs)
