The Pakistan Cricket Board (PCB) on Thursday dismissed reports in the Indian media claiming that the board suffered an 85 per cent loss after spending INR 869 crore on the recently concluded Champions Trophy, which was held between February 19 and Match 9. PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza stated the ICC tournament, which marked the return of global cricket back to Pakistan for the first time in 29 years, significantly boosted the board's revenue.
Speaking at a press conference, the PCB officials rejected the claims made about the loss incurred by the board upon hosting the Champions Trophy and revealed that they earned ₹3 billion from the event.
"All expenses for the tournament were covered by the ICC," Mir said. “PCB generated revenue through gate money and ticket sales, and after the audit, we expect an additional ₹3 billion from the ICC.”
Mir further stated that while the board had made an initial target of ₹2 billion in earnings from the Champions Trophy, they surpassed the goal through the course of the tournament, where India emerged as winners after beating New Zealand in the final in Dubai.
Mir also hailed the board chairman, Mohsin Naqvi, for the improved financial standing after they earned 40 per cent more than the previous fiscal year.
"With this financial strength, PCB now ranks among the top three richest cricket boards in the world," Mir said. "The board has also paid ₹40 million in taxes."
PCB addresses rumours on domestic player compensation and ICC's clarification
{{/usCountry}}"With this financial strength, PCB now ranks among the top three richest cricket boards in the world," Mir said. "The board has also paid ₹40 million in taxes."
PCB addresses rumours on domestic player compensation and ICC's clarification
{{/usCountry}}The report in Indian media also claimed that domestic players suffered the consequences of the 'financial misadventure' as their match fees were reduced by 90 per cent. However, Mir confirmed that Naqvi had reversed the decision on salary reduction.
The officials also stated that they continue to await clarification from the ICC regarding their board official's snubbing during the Champions Trophy closing ceremony in Dubai.