The Pakistan Cricket Board (PCB) has refuted reports of financial losses from hosting the ICC Champions Trophy, instead announcing an expected profit of around $10 million. The tournament, which saw India crowned as champions, also boosted PCB’s overall revenue for the 2023-24 fiscal year to Rs 10 billion—marking a 40% increase from the previous year.
Speaking at a press conference on Thursday, PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza addressed concerns about overspending on stadium upgrades in Karachi, Lahore, and Rawalpindi.
“All tournament expenses were covered by the ICC,” Mir clarified. “The PCB generated additional revenue through gate money and ticket sales.”
He further stated that an additional Rs 3 billion is expected from the ICC after the audit, surpassing PCB’s initial revenue target of Rs 2 billion for the Champions Trophy.
PCB Now Among World’s Wealthiest Cricket Boards
Mir highlighted PCB’s growing financial strength, claiming that the board now ranks among the top three richest cricket boards globally. He also confirmed that the PCB has paid Rs 40 million in taxes.
CFO Murtaza credited PCB Chairman Mohsin Naqvi for actively revising financial targets and improving the board’s fiscal performance. He noted that Rs 18 billion was allocated for stadium upgrades, with Rs 10.5 billion already spent in Phase 1.
“The remaining funds will be used for further improvements, including upgrades in Karachi, Faisalabad, and Rawalpindi,” Murtaza said.
He also emphasized the rapid progress in modernizing stadiums, stating that the PCB completed major renovations in just four months to meet international standards—marking the first large-scale upgrade in 29 years.
PCB Reports Record Revenue from Champions Trophy, Dismisses Financial Loss Claims
Transparency & Future Plans
Addressing concerns over domestic player salaries, Mir confirmed that Chairman Naqvi had reversed planned salary cuts for both men’s and women’s players.
Regarding PCB’s absence from the final stages of the Champions Trophy, officials said they are still waiting for a detailed explanation from the ICC.
To ensure transparency, Murtaza announced that the PCB will soon publish all financial details related to the Champions Trophy on its official website.
