PCB spent Rs1.08 billion in past three years
Amount was geared towards promotion of the sport
PCB chairman Shaharyar Khan. PHOTO: Malik Shafiq/ Express
ISLAMABAD:
The cricket governing body of Pakistan spent Rs1.08 billion on promotion of the sport in the last three years.
A report submitted in Parliament on Tuesday revealed Pakistan Cricket Board's (PCB) income and expenditures for the previous three years.
As per the report, PCB generated a revenue of Rs10.77 billion allowing the board a profit of Rs 9.69 billion.
NAB, FIA investigating financial irregularities within PCB
Earlier this month, the board reviewed the audit report of the first edition of the Pakistan Super League (PSL) in its governing board meeting. The findings of the report showed the profit earned by PCB — estimated to be $2.6 million — as well as the amount handed over to the five franchises, which was worth $2 million, leaving the board with $600,000 for itself.
PSL’s first edition, which was held in February 2016 in the UAE, saw five franchises compete for the silverware with Islamabad United crowned as the eventual winners. However, the owners had complained that lack of time for marketing before the event didn’t allow them to generate profits.
The curious case of PSL's profit
Meanwhile, a PCB official told Daily Express that this leverage will not be available in the second edition of the cash-rich T20 league. “Earning a profit in the very first edition was a landmark achievement,” said a PCB official. “We are expecting more income in the second edition.”
The cricket governing body of Pakistan spent Rs1.08 billion on promotion of the sport in the last three years.
A report submitted in Parliament on Tuesday revealed Pakistan Cricket Board's (PCB) income and expenditures for the previous three years.
As per the report, PCB generated a revenue of Rs10.77 billion allowing the board a profit of Rs 9.69 billion.
NAB, FIA investigating financial irregularities within PCB
Earlier this month, the board reviewed the audit report of the first edition of the Pakistan Super League (PSL) in its governing board meeting. The findings of the report showed the profit earned by PCB — estimated to be $2.6 million — as well as the amount handed over to the five franchises, which was worth $2 million, leaving the board with $600,000 for itself.
PSL’s first edition, which was held in February 2016 in the UAE, saw five franchises compete for the silverware with Islamabad United crowned as the eventual winners. However, the owners had complained that lack of time for marketing before the event didn’t allow them to generate profits.
The curious case of PSL's profit
Meanwhile, a PCB official told Daily Express that this leverage will not be available in the second edition of the cash-rich T20 league. “Earning a profit in the very first edition was a landmark achievement,” said a PCB official. “We are expecting more income in the second edition.”