Pakistan Cricket Board has made epic gains hosting the 7th edition of the PSL.© Twitter
The Pakistan Cricket Board has made a bumper profit of PKR 2.3 billion by hosting the 7th edition of the Pakistan Super League in January-February this year. An official PCB spokesman confirmed that the board had earned a net profit of approximately 2.3 billion Pakistani rupees from the PSL. “Let me be clear that this is the net profit of the PCB and that the profit of the six franchises that participated in the PSL is separated,” he said. Asked to give an estimate of the profits that will be distributed from the central pool to the six teams, he said these could not be disclosed due to confidentiality clauses.
“We have declared our profits from the PSL because it is our profits, but we cannot disclose the profits given to the franchises,” he said.
This is arguably the highest gain the PCB has made from the organization of the PSL since its launch in 2016.
Generally, the PCB shares a 5-95 profit-sharing formula with the franchises from the money earned from broadcasting, title sponsorship, gate money, and other rights.
The official admitted that due to the COVID-19 pandemic disrupting the PSL 5 and 6 editions, the board had to pay out a billion rupees in compensation to the franchises to make up for their operating losses.
The official said that as a result of a profitable season, the board’s reserve funds had also increased from 12 billion to 15 billion rupees this fiscal year.
“Given that as a result of the COVID pandemic many cricket boards have suffered loss of revenue and gone through desperate times since 2020, the PCB has not only managed to stay safe, but even make a profit from the PSL.” He also said that at least five of the six franchises in the PSL 7 would make a profit this year.
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