PCB Triumphs: From Loss Fears to Record Profits

The Pakistan Cricket Board (PCB) is set to earn around USD 10 million from hosting the Champions Trophy, overcoming initial expectations of financial loss. They gained revenue through gate money and ticket sales and expect further funds from the ICC. PCB's financial stability sees them among the world's richest cricket boards.

The Pakistan Cricket Board (PCB) announced on Thursday that it anticipates earning approximately USD 10 million in profit from hosting the Champions Trophy, dispelling earlier reports of financial losses associated with the event. The Indian team claimed victory at the tournament.

Aamir Mir, PCB spokesperson, and Javed Murtaza, Chief Financial Officer, addressed media concerning speculation that substantial spending on stadium upgrades in Karachi, Lahore, and Rawalpindi had strained the board's finances. They clarified that event expenses were covered by the ICC, with additional revenue sourced from gate money and ticket sales. Anticipated revenue from the ICC audit adds another Rs 3 billion to the board's financial gains.

Mir also highlighted the PCB's successful financial year, achieving Rs 10 billion in total revenue and ranking among the world's top three wealthiest cricket boards. Stadium upgrades continue, with funding of Rs 18 billion allocated to enhance facilities further. The board plans to disclose full financial details soon to ensure transparency.

(With inputs from agencies.)