The PCB (Pakistan Cricket Board) has confirmed that it has received the final awards of the arbitration proceedings it initiated against Techfront International FZE (Techfront) as well as the two separate arbitrations filed against it by Blitz Advertising (Pvt) Limited before the London Court of International Arbitration (LCIA), and that the outcome of all arbitrations is in its favour.
The disagreement with Techfront International FZE (Techfront) was over the late payment of rights fees due under the HBL Pakistan Super League (PSL) Television Broadcast and Live Streaming Media Rights Agreements, while the disagreement with Blitz Advertising was over the late payment of television broadcast and live streaming media rights fees for HBL PSL 2020 matches.
The sole arbitrator assigned by the LCIA denied Techfront and Blitz Advertising’s claims and ordered both corporations to pay the PCB rights fees due as stated, as well as the PCB’s expenditures in lieu of counter-claims, damages, arbitration, legal costs, and other incidental expenses incurred.
