Cricketers from Pakistan Demand Fair Share in Digital Rights Sales, Stalling Central Contract Signings
The Pakistan Cricket Board (PCB) faces a hurdle in renewing central contracts for the national team players as they reportedly refused to sign unless given a larger share and influence over the sale of their licensed digital rights. The cricketers’ previous central contracts expired on June 30, and negotiations for new contracts have hit a roadblock due to this contentious issue.
Sources close to the situation reveal that the players are seeking a more substantial portion and a say in the revenues generated from the sale of their digital rights, a domain currently overseen by the PCB. The players’ stance is that other cricket boards either stay uninvolved in the sale of players’ digital rights or have established comprehensive agreements with players for revenue-sharing from this avenue, as explained by an insider.
Presently, the PCB accumulates revenues from the International Cricket Council (ICC) and Asian Cricket Council (ACC) for providing digital rights to players for various multi-nation events. Despite the PCB sharing a portion of these revenues with the players, the cricketers argue that the allocation is insufficient.
The rising trend of sports Non-Fungible Tokens (NFTs) has significantly increased their market value, driven by the growing popularity of cryptocurrencies. Companies like Rario have invested heavily in this domain, injecting substantial sums like the $120 million mentioned. NFTs in the sports sector are digital collectibles that enable fans to amass cards and memorabilia related to their favorite players. The authentication of NFT sales relies on blockchain technology.
While the PCB has proposed a three-year central contract to the players, they remain hesitant to commit without a resolution to the digital rights matter, according to an anonymous source. Although the board has raised monthly central contract retainers and match fees by nearly double, players are adamant about securing a more significant share from digital rights sales and even a larger portion of the proceeds from broadcasting rights sales.
To address the impasse, a senior The Pakistan Cricket Board (PCB) official is currently in Sri Lanka, where Pakistan is scheduled to compete against Afghanistan in a series of three One Day International matches. This official aims to engage in discussions with senior players to facilitate negotiations regarding the central contracts. Until a resolution is reached, the fate of these contracts and the players’ involvement in lucrative digital rights sales remain uncertain.
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