The Pakistan Cricket Board (PCB) is grappling with significant financial setbacks following the ICC Champions Trophy. Despite hosting this prestigious tournament after a long gap, Pakistan's experience turned sour. Apart from Pakistan’s early exit in the league stage due to poor performance, the situation worsened when Pakistani officials were not invited to the trophy presentation ceremony in Dubai.
Adding to this disappointment, the PCB reportedly suffered substantial financial losses as a result of hosting the tournament, dealing a severe blow to the board's stability.
Pakistan's Limited Home Matches
Despite being the host, Pakistan played only one match on home soil. The team lost to New Zealand in Lahore before suffering another defeat against India in Dubai. Additionally, their match against Bangladesh was abandoned due to rain, eliminating Pakistan from the tournament.
Financial Losses and Budget Overruns
According to media reports, the PCB invested approximately 18 billion Pakistani rupees ($58 million) in stadium upgrades across Rawalpindi, Lahore, and Karachi. This expenditure exceeded the estimated budget by 50%. Moreover, around $40 million was spent on event preparations.
In return, the PCB reportedly earned just $6 million as hosting fees. Ticket sales and sponsorship revenues were also significantly lower than expected.
PCB's Financial Struggles
As a result, the PCB appears to have incurred a staggering $85 million loss from organizing the Champions Trophy. To mitigate this financial strain, the board is reportedly planning drastic cost-cutting measures.
Impact on Players' Match Fees
The PCB has allegedly decided to implement substantial cuts in players' match fees:
- Players in the National T20 Championship may face a 90% reduction in their match fees.
- Reserve players could see their fees reduced by 87.5%.
Chairman's Intervention and Hotel Cost Cuts
Reports indicate that the PCB had reduced players' match fees from Rs. 40,000 to Rs. 10,000 without formal communication. However, PCB Chairman Mohsin Naqvi intervened, opposing the decision. Consequently, the board instructed the domestic cricket department to reassess the matter.
In addition to reducing match fees, the PCB has reportedly asked players to switch from 5-star hotels to economy accommodations to further control expenses.
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