The Pakistan Cricket Board ended up with epic profits by organizing the 7th edition of the PSL.©Twitter
The Pakistan Cricket Board ended up with windfall profits of PKR 2.3 billion from hosting the 7th edition of the Pakistan Super League in January-February this year. An official PCB spokesperson confirmed that the board made a net profit of around 2.3 billion Pakistani rupees from the PSL. “Let me clarify that this is the net profit of the PCB and the profit of the six franchises that participated in the PSL is separate,” he said. Asked to give an approximate figure for the profits that will be distributed by the central pool to the six teams, he said these could not be disclosed due to confidentiality clauses.
“We have reported our profit from the PSL because it is our profit but we cannot disclose the profit that will be returned to the franchises,” he said.
This is perhaps the highest profit made by the PCB of the PSL organization since its launch in 2016.
Generally, the PCB shares a 5-95 profit-sharing formula with franchises from money earned through broadcast, title sponsorship, portal money, and other rights.
The manager admitted that due to the COVID-19 pandemic disrupting the PSL 5 and 6 editions, the board had to distribute a compensation amount of Rs.1 billion to the franchises to compensate for their loss of business. operation.
Promoted
The official said that due to a profitable season, the reserve funds of the board also jumped from Rs 12 billion to Rs 15 billion in this financial year.
“Given that due to the COVID pandemic since 2020 many cricket commissions have suffered loss of income and faced desperate times, the PCB has not only managed to stay safe but has even made a profit thanks to the PSL.” He also clarified that at least five of the six PSL 7 franchises will make a profit this year.
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