The Pakistan Cricket Board (PCB) has strongly refuted claims from Indian media that it suffered an 85% loss after spending INR 869 crore on hosting the recently concluded Champions Trophy. Instead, PCB officials assert that the tournament significantly boosted the board’s financial standing, placing it among the top three richest cricket boards globally.
During a press conference, PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza highlighted the substantial financial gains from the event, where India emerged victorious. Mir stated, “All expenses for the tournament were covered by the ICC. Additionally, after the audit, we expect to receive another Rs 3 billion from the ICC.”
Initially, the PCB had set a revenue target of Rs 2 billion from the Champions Trophy. However, the board exceeded expectations, ultimately reaching Rs 10 billion in total revenue for the 2023-24 fiscal year—a 40% increase from the previous year. “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.”
The officials credited PCB Chairman Mohsin Naqvi for playing a pivotal role in revising fiscal targets and enhancing the board’s financial performance. CFO Murtaza also noted that the remaining funds would be allocated to further improve stadiums, particularly in Karachi, Faisalabad, and Rawalpindi.
The PCB’s infrastructure investments were substantial, with a budget of Rs 18 billion set aside for stadium upgrades. Of this, Rs 12 billion was allocated for the first phase, and Rs 10.5 billion has already been spent. Murtaza emphasized that major renovations were completed within just four months, ensuring that venues met international standards.
Addressing concerns about domestic player salaries, Mir confirmed that Chairman Naqvi had overturned the decision to reduce the match fees of domestic men’s and women’s players, dismissing speculation that financial constraints led to a 90% salary cut.
Meanwhile, PCB officials acknowledged that they are still awaiting clarification from the ICC regarding the absence of their board representatives during the Champions Trophy closing ceremony in Dubai. Despite this, they maintained that the tournament was a major success for Pakistan, marking the return of global cricket to the country after 29 years and solidifying its financial growth.
