PCB to lose $85 million if it fails to host India
Scheduled series against India in December will alone render $70 million loss if not materialised
PHOTO: AFP
Pakistan Cricket Board (PCB) will lose revenues worth approximately $85 million if it fails to host India for a full series over the next three to four years.
"The situation is such that if during the duration of the four-year broadcasting deal which is worth $145 million if we don't host India at all then we lose nearly 65 per cent of the total amount which comes to around $85 million," a Pakistan Cricket Board (PCB) official told the Press Trust of India (PTI).
The official said that if the scheduled series with India doesn’t take place in December, then the Pakistan board will end up losing as much as $70 million.
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"No doubt if India doesn't confirm the series which we will host, it will hit us financially in the long run," he added.
The official also confirmed that PCB has already estimated a huge profit from the coming series and if the series will not be organised owing to political tensions between the two countries, Pakistan cricket will suffer a huge financial loss.
Another credible source from within the board revealed that PCB will face revenue deduction from the contract of TV rights, if it fails to host a series with the neighbouring country in the near future.
"If that doesn't happen, there will be deductions in the total contract amount of $145 million."
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"We have survived depsite not being able to host a full Test series at home since 2009 because of the share we get from the ICC from participating in their events," he said.
Further, the source said that the Pakistan Super League (PSL) is also a burden for the PCB at the moment. "So far things have been difficult for the PSL secretariat because the expectations of big earnings from sale of broadcasting rights have not been realised and secondly a lot of money is being spent on maintaining the secretariat and the travel and costs of its employees," the source added.
PCB is already paying a 50 per cent extra salary to those employees working on PSL apart from their routine jobs in the board, the source added.
"The sale of rights for franchises will be held on November 18 or 19," he said.
The story originally appeared on The Times of India
"The situation is such that if during the duration of the four-year broadcasting deal which is worth $145 million if we don't host India at all then we lose nearly 65 per cent of the total amount which comes to around $85 million," a Pakistan Cricket Board (PCB) official told the Press Trust of India (PTI).
The official said that if the scheduled series with India doesn’t take place in December, then the Pakistan board will end up losing as much as $70 million.
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"No doubt if India doesn't confirm the series which we will host, it will hit us financially in the long run," he added.
The official also confirmed that PCB has already estimated a huge profit from the coming series and if the series will not be organised owing to political tensions between the two countries, Pakistan cricket will suffer a huge financial loss.
Another credible source from within the board revealed that PCB will face revenue deduction from the contract of TV rights, if it fails to host a series with the neighbouring country in the near future.
"If that doesn't happen, there will be deductions in the total contract amount of $145 million."
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"We have survived depsite not being able to host a full Test series at home since 2009 because of the share we get from the ICC from participating in their events," he said.
Further, the source said that the Pakistan Super League (PSL) is also a burden for the PCB at the moment. "So far things have been difficult for the PSL secretariat because the expectations of big earnings from sale of broadcasting rights have not been realised and secondly a lot of money is being spent on maintaining the secretariat and the travel and costs of its employees," the source added.
PCB is already paying a 50 per cent extra salary to those employees working on PSL apart from their routine jobs in the board, the source added.
"The sale of rights for franchises will be held on November 18 or 19," he said.
The story originally appeared on The Times of India