Pakistan Cricket Board faces $85 million loss after hosting ICC Champions Trophy
PTC Web Desk: The financial woes of the Pakistan Cricket Board (PCB) have deepened after hosting the ICC Champions Trophy, with the board reportedly incurring a staggering loss of $85 million (Rs 869 crore). The tournament, meant to boost Pakistan’s cricketing stature, instead turned into a major financial setback.
According to a Telegraph India report, the PCB allocated approximately PKR 18 billion ($58 million) for upgrading three venues—Rawalpindi, Lahore, and Karachi. However, the cost exceeded initial estimates by 50%. Additionally, the board spent $40 million on event preparations. Despite such massive investments, PCB received only $6 million as a hosting fee, while earnings from ticket sales and sponsorships were minimal.
Pakistan’s on-field performance further dampened the event's financial viability. The team played only one match on home soil in Lahore, where they suffered a loss to New Zealand. Their subsequent matches were held in Dubai, where they faced India and Bangladesh—the latter being washed out. Following defeats to New Zealand and India, Pakistan exited the tournament in the group stage.
The financial crisis forced the PCB to make drastic budget cuts:
Match fees in the National T20 Championship were slashed by 90% (from PKR 40,000 to PKR 10,000).
Reserve player payments were reduced by 87.5%.
Luxury accommodations for players were replaced with budget hotels.
However, PCB Chairman Mohsin Naqvi intervened, ordering a reassessment of the match fee reductions.
- With inputs from agencies
