Pakistan Cricket Board Expects to Earn USD 10 million as Host of Champions Trophy

The Pakistan Cricket Board (PCB) has announced a projected profit of approximately USD 10 million from hosting the Champions Trophy, where the Indian team emerged as the champions. According to PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza, all tournament expenses were covered by the International Cricket Council (ICC).

Pakistan Cricket Board

"All expenses for the tournament were covered by the ICC," Mir said in a statement on Thursday, as quoted by PTI. "Additionally, after the audit, we expect to receive another Rs 3 billion from the ICC."

Initially, the PCB had targeted Rs 2 billion in earnings from the Champions Trophy, but it exceeded this goal. The officials revealed that PCB's total revenue for the 2023-24 fiscal year has reached Rs 10 billion, marking a 40% increase from the previous year, and positioning the PCB among the top three richest cricket boards globally.

"With this financial strength, the 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 highlighted the crucial role PCB Chairman Mohsin Naqvi played in revising the fiscal targets and enhancing the board’s financial standing. "The remaining funds will be used to further improve stadiums, including those in Karachi, Faisalabad, and Rawalpindi," he noted.

The PCB has made several financial investments, with a budget of Rs 18 billion set aside for stadium upgrades. Of this, Rs 12 billion has been allocated for Phase 1, with Rs 10.5 billion already spent. The remaining funds will be directed toward enhancing stadiums in Karachi, Faisalabad, and Rawalpindi.

The CFO also noted that significant renovations were completed in just four months, ensuring that venues now meet international standards. Regarding the reduction in salaries for domestic men's and women's players, Mir confirmed that Chairman Naqvi had reversed the decision to cut their salaries.

As for 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.