Daily Times

The Pakistan Cricket Board (PCB) has dismissed claims of financial losses from hosting the ICC Champions Trophy, asserting that the tournament significantly bolstered its revenue.

At a press conference, PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza refuted reports from Indian media, highlighting that the board earned Rs 3 billion from the event.

“All tournament expenses were covered by the ICC,” Mir stated. “PCB generated revenue through gate money and ticket sales, and after the audit, we anticipate an additional Rs 3 billion from the ICC.”

He further noted that PCB’s initial revenue target of Rs 2 billion for the Champions Trophy has been exceeded.

Mir credited PCB Chairman Mohsin Naqvi for strengthening the board’s financial position, revealing that total revenue for the 2023-24 fiscal year reached Rs 10 billion—marking a 40% increase.

“With this financial growth, PCB now ranks among the top three wealthiest cricket boards globally,” Mir added, noting that the board has also contributed Rs 40 million in taxes.

Murtaza underscored Naqvi’s pivotal role in revising financial targets, emphasizing his active involvement in boosting PCB’s economic outlook.

Mir also highlighted the swift renovation of stadiums under Naqvi’s leadership, stating that significant upgrades were completed within just four months. “After 29 years, a major stadium overhaul was undertaken, ensuring venues meet international standards,” he said.

Detailing infrastructure investments, Murtaza confirmed that PCB allocated Rs 18 billion for stadium upgrades.

“For Phase One, Rs 12 billion was allocated, with Rs 10.5 billion already utilized,” he stated. “The remaining funds will be used for further improvements.”

In the next phase, PCB plans to enhance cricket facilities in Karachi, Faisalabad, and Rawalpindi, continuing its nationwide renovation efforts.