The Pakistan Cricket Board (PCB) has suffered a huge financial loss after hosting the recently concluded Champions Trophy. It is reported that the PCB suffered an 85% loss after spending INR 869 Crore for playing just one completed home game during the tournament.
The Pakistan Board has spent PKR 18 billion (about 58 million dollars) upgrading each of the three venues – Rawalpindi, Lahore and Karachi. This was 50 percent more than their budget as per report.
Additionally, they spent $40 million on event preparations. However, they only received $6 million in return as part of the hosting fee and change from ticket sales and sponsorships.
As a result, this implies that PCB suffered a loss of about $85 million. Mohammad Rizwan-led side played only one game at home, against New Zealand at the Gaddafi Stadium.
Bangladesh game was washed out without even the toss. They travelled to Dubai to play against India while their match against New Zealand suffered a defeat.
The report said that the players were made to face the brutal consequences of the ‘financial misadventure’ as match fees in the national T20 Championship have been reduced by 90% and those for reserve player payments by 87.5 percent.
These cricketers who were once accomodated in five-star hotels, found themselves in budget accomodations while the administrators continued drawing millions of salaries.
“The PCB had recently reduced match fees from ₹40,000 to ₹10,000 without any official announcement…however PCB chairman Mohsin Naqvi intervened, rejecting the decision and directing the board’s domestic cricket department to reassess the matter. While the PCB has yet to officially disclose the revised amount, sources indicate it has been set at ₹30,000 per match — ₹10,000 less than last year.” said a report.
Pakistan Cricket Team of Pakistan is currently in New Zealand to play a five match T20I series and three match ODI series. The Men in Green suffered a humiliating defeat in the first T20I and the final match will be played on March 18 at Universtiy Oval.
