Sports

PCB reaps $2.6m profit from Pakistan Super League

The five-team franchise-based event was held in the UAE earlier this year to boost the country's cricket standards

Afp May 03, 2016

Najam Sethi. PHOTO: AFP/FILE

LAHORE: Pakistan Super League (PSL) chairman Najam Sethi announced Tuesday an overall profit of $2.6 million from the country's first ever Twenty20 league.

The five-team franchise-based event was held in the United Arab Emirates earlier this year in an attempt to boost the country's cricket standards, which have been badly hit by the suspension of international tournaments since the 2009 terror attack on the Sri Lanka team bus in Lahore.

Sethi described the profit as a welcome sign.

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"Fortunately we had a $2.6 million dollar profit but since the franchises incurred some losses we decided to give $2 million to them and reduced our profit to $0.6 million," Sethi said at a news conference.

He said around $6 million was earned from television rights and gate money.

Islamabad beat Quetta to win February's inaugural PSL, which featured top international players such as Chris Gayle, Darren Sammy, Shane Watson, Kevin Pietersen, Luke Wright and Shakib Al Hasan.

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Sethi said a sixth team was likely to be added next year after negotiations.

"PSL was successful and there is huge demand to add one more team," he added.

Sethi said Pakistan's young cricketers would benefit from the PSL, just as the Indian Premier League had helped India, by allowing them to play alongside experienced international stars.

COMMENTS (12)

Rabia | 8 years ago | Reply There is a reason why most Pakistani's are taxi drivers in the US and Indians are leaders in IT and head major companies like Google and American Express

Nomi | 8 years ago | Reply @Anuj Whats with these Indians and their lectures on economics? Superior education? I mean come on. White Collar jobs? Just tell that to the 800 million who live below poverty line on the basis of 32 rupees per day income.

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Anuj | 8 years ago | Reply @Ussamah Ahmed If IPL too was played outside India, even then it would have registered atleast 10 times profit of what PSL clsims. Indians are in large numbers outside India second only to China be it students or working professionals. Despite this India tops remittances chart since last many years. Indians earn far better than their other asian counterparts because of our superior education (not superior than China though). Not to forget our management skills are far better than yours. But this claim of profit by Mr. Sethi will be scrutinized. He boasts a lot.

Samrat | 8 years ago | Reply Sethi says its a SIX!

Revenge | 8 years ago | Reply Okay, so now we have the money lets start shopping. 8 F-16s, 12 Jf-17, couple of stealth bombers. Thats it Keep the change!

mansoor | 8 years ago | Reply @rabia whatever the case may be there is no need to compare PSL with IPL. The latter is a huge success and its been a good nine years since its inaugural edition and PSL is only a year old. It does need time to flourish !

Ussamah Ahmed | 8 years ago | Reply @Rabia, Sorry to break it to you, but if the number quoted is indeed true, it is quite an achievement considering the entire tournament was played in Abu Dhabi / Sharjah. IPL is played at home in front of home audience giving every Indian an opportunity and hence you see capacity crowds. You cant expect expats to fill up stadiums for every game, so a loss is expected. Considering this was the first tournament played on neutral ground, I am surprised they even broke even. The number should be audited, yes as someone suggested.

Rabia | 8 years ago | Reply hahaha..Virat Kohli alone earned $3 million from IPL this year. Also, IPL's first year profits (8 years back) were $20 million. Pakistan is so behind and poor

Najaf | 8 years ago | Reply What a lie, let's do the audit and it's going to be loss of 2.6 million dollars and profit, he is saying this because other then his cronies nobody has seen expenses reports

Jimmy | 8 years ago | Reply This is a joke, this guy should be sacked like all the others who have monopolized cricket in Pak. They got gr8 talent but no cricket body. All are scammers and con artists there. Everyone after their own interest. Depoliticize cricket in pak and they will be back to their glory days.

Woz ahmed | 8 years ago | Reply Impressive a profit was made in the first year, although the figure is for the board not all the tournament partners. I would have preferred the gate receipts and tv income were seperated, would provide a better insight. Disagree that this tournament helped our players, not sure we could have done much worse in following world t20. Roll on 2017, lets hope some matches will come back home.

mohan | 8 years ago | Reply Lol! What he said? Looks like huge success for Pak and they gonna do it all the way. But what us the transparency in these statements, as we regularly watching that govt not telling truth to ppl.

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