The Pakistan Cricket Board (PCB) is grappling with a severe financial setback following its hosting of the ICC Champions Trophy. As per a report published in Telegraph India, the Pakistan Cricket Board (PCB) suffered an $85 million (£68 million) deficit from the tournament.
That amount reportedly amounts to a whopping 85 per cent loss on investment. Pakistan reportedly invested Rs 869 crores for the Champions Trophy in the country. However, it lost around Rs 740 crores while hosting the tournament.
Despite heavy spending on venue upgrades in Rawalpindi, Lahore, and Karachi—overshooting the budget by 50%—revenues remained meagre. Hosting fees brought in just $6 million (£4.8 million), while ticket sales and sponsorship earnings were negligible.
Compounding the financial woes, Pakistan’s performance on the field was underwhelming. A loss to New Zealand, followed by a defeat against India, and the abandonment of their final group-stage match against Bangladesh due to rain resulted in an early exit. With only two matches played—one at home—the team’s campaign was cut short.
To recover from these losses, the PCB faced criticism for proposing drastic salary cuts, slashing player match fees by 90% for the National T20 Championship and reducing reserve players’ pay by 87.5%. The board also faced flak for swapping 5-star accommodations for players with economy hotels.
However, PCB Chairman Mohsin Naqvi stepped in to block these extreme reductions, urging a review of the decision. Additionally, cost-saving measures now require players to choose more budget-friendly accommodations.
