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Australia series provides financial boost to the PCB

world Updated: Jul 23, 2010 14:06 IST

PTI
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The on-going 'Spirit of Cricket' series between Pakistan and Australia in England, is proving to be profitable for the Pakistan Cricket Board.

PCB is expected to make a profit of around $ 3 million from this series against Australia, which is sponsored by Marylebone Cricket Club.

"We were a bit apprehensive when it was first decided to stage the series in England but now our profit estimates are higher then our financial experts had forecast," a PCB official said.

Under the agreement signed for the series, the Wales and English Cricket Board (ECB) has to pay a minimum of 1.9 million pounds for the matches as it was given the right to seek staging fee bids from the venues for the two neutral test matches and two neutral T20 internationals.

The proceeds from these staging fees will be split equally between the two Boards, subject to the Pakistan Cricket Board being guaranteed a minimum of 1.9 million pounds for the matches.

Moreover, PCB has also retained the right to retain broadcasting rights and sponsorship fees from the neutral test matches.

"It has turned out to be a good arrangement for us in the end because with the series now coming to an end the earnings have been good," the PCB official said.

Along with the current series, the upcoming series against England that starts from July 29th is going to provide the PCB with an estimated gain of around $ 3.7 million. Along with a participation fee of $ 3.6 million for the series against England, the series will provide a full and final settlement of 68,635 pounds, an outstanding amount from the 2006 Pakistan tour to England when the final test at Oval was forfeited by Pakistan on fourth day after the ball tampering incident.

But the PCB is also playing one T20 international against England free of cost as compensation to the ECB for the forfeited test.