PCB denies financial loss from ICC Champions Trophy, reporting PKR 10 billion in revenue and major stadium upgrades.
\n Lahore
\nThe Pakistan Cricket Board (PCB) spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza has dismissed reports of financial losses from hosting the ICC Champions Trophy, stating that the tournament contributed significantly to the board\u2019s revenue.
\nSpeaking at a press conference, the PCB spokespersons rejected claims made in Indian media, asserting that the board earned Rs 3 billion from the event.
\n\u201cAll expenses for the tournament were covered by the ICC,\u201d Mir said. \u201cPCB generated revenue through gate money and ticket sales, and after the audit, we expect an additional Rs 3 billion from the ICC.\u201d
\nThe spokesperson stated that the initial target of Rs 2 billion for PCB to earn from ICC Champions Trophy will be surpassed.
\nFinancial growth under Mohsin Naqvi
\nMir credited PCB Chairman Mohsin Naqvi for improving the board\u2019s financial position, revealing that total revenue for the 2023-24 fiscal year reached Rs 10 billion\u2014marking a 40% increase.
\n\u201cWith this financial strength, PCB ranks among the top three richest cricket boards globally,\u201d he said. \u201cThe board has also paid Rs 40 million in taxes.\u201d
\nMurtaza further stated that Mohsin Naqvi was crucial in revising set targets for the fiscal year, showcasing his involvement in the process.
\nStadium upgrades and future plans
\nMir highlighted the rapid renovation of stadiums under Naqvi\u2019s leadership, stating that PCB completed significant upgrades in just four months. \u201cAfter 29 years, a major stadium upgrade was undertaken, ensuring that venues met international standards,\u201d he said. Murtaza provided further details on PCB\u2019s financial investments, confirming that the budget for stadium upgrades was set at PKR 18 billion.
\n\u201cFor Phase One, Rs 12 billion was allocated, with Rs 10.5 billion already utilised,\u201d he said. \u201cThe remaining funds will be used to further improve these and other stadiums.\u201d He reiterated that the PCB in its next phase intends to improve stadiums in Karachi, Faisalabad, and Rawalpindi.
\nDomestic player compensation and ICC clarification
\nAddressing concerns over domestic players\u2019 earnings, Mir confirmed that Naqvi had reversed the decision to reduce their salaries. On PCB\u2019s absence from the final stage of the ICC Champions Trophy, officials stated that they were awaiting a full explanation from the ICC.
\nPCB also announced that all financial figures related to the tournament\u2019s earnings and expenses would be published on its website for transparency.<\/p>\n","protected":false},"excerpt":{"rendered":"
PCB denies financial loss from ICC Champions Trophy, reporting PKR 10 billion in revenue and major stadium upgrades. Lahore The Pakistan Cricket Board (PCB) spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza has dismissed reports of financial losses from hosting the ICC Champions Trophy, stating that the tournament contributed significantly to the board\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":468210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-468206","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"yoast_head":"\n