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Hosting fees amounted to a mere $6 million and income from ticket sales and sponsorships proved negligible. (Representative/PTI File)
The Pakistan Cricket Board (PCB) is facing a financial crisis following its hosting of the recent ICC Champions Trophy, with reported losses equivalent to the cost of a state-of-the-art F-35 fighter jet.
The PCB reportedly incurred losses of $85 million (£68 million) in hosting the tournament, a figure comparable to the average $82.5 million (£66 million) price tag of an F-35.
Despite significant investment in upgrading venues in Rawalpindi, Lahore, and Karachi, which exceeded the estimated budget by 50%, the PCB’s returns were minimal. Hosting fees amounted to a mere $6 million (£4.8 million), and income from ticket sales and sponsorships proved negligible.
Adding to the financial strain, Pakistan’s on-field performance was disappointing. After a loss to New Zealand in their opening match and a subsequent defeat against India, their final group match against Bangladesh was abandoned due to rain. This early exit meant Pakistan only played two matches, one of which was on home soil.
To offset these substantial losses, the PCB has come under fire for attempting to reduce player match fees by a staggering 90% for the upcoming National T20 Championship. Reserve players also faced a salary cut of 87.5%. However, PCB Chairman Mohsin Naqvi intervened, rejecting these drastic measures and urging the board to reconsider. In a further cost-cutting effort, players have been instructed to opt for more economical accommodation options.
