NEW DELHI: The Pakistan Cricket Board (PCB) has announced that it is set to earn a profit of approximately USD 10 million by hosting the Champions Trophy, where the Indian team emerged as the champion.
According to PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza, all expenses for the tournament were covered by the International Cricket Council (ICC).
“All expenses for the tournament were covered by the ICC,” Mir, as quoted by PTI, said on Thursday. “Additionally, after the audit, we expect to receive another Rs 3 billion from the ICC.”
Additionally, the PCB expects to receive another Rs 3 billion from the ICC after the audit.
The PCB had initially targeted Rs 2 billion in earnings from the Champions Trophy, but they surpassed this goal. The officials claimed that the PCB’s total revenue for the 2023-24 fiscal year reached Rs 10 billion, a 40% increase from the previous year, placing the PCB among the top three richest cricket boards in the world.
“With this financial strength, PCB now ranks among the top three richest cricket boards in the world,” Mir added. “The board has also paid Rs 40 million in taxes.”
Murtaza stated that PCB chief Mohsin Naqvi played a key role in revising the fiscal targets and improving the board’s financial performance. “The remaining funds will be used to further improve these and other stadiums, including those in Karachi, Faisalabad, and Rawalpindi,” he noted.
The PCB had several financial investments, and the budget for stadium upgrades was set at Rs 18 billion, with Rs 12 billion allocated for Phase one, of which Rs 10.5 billion has already been spent.
The remaining funds will be used to further improve stadiums in Karachi, Faisalabad, and Rawalpindi.
The CFO said that the PCB had completed major renovations in just four months, ensuring that venues now meet international standards. Regarding the reduction in salaries of domestic men’s and women’s players, Mir said Chairman Naqvi had reversed the decision to cut their salaries.
Concerning the PCB’s absence from the final stages of the ICC Champions Trophy, the officials stated that they are still awaiting a full explanation from the ICC.
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