Daily Times

ISLAMABAD: The Pakistan Cricket Board spent Rs1.08 billion on promotion of the sport in the last three years. A report submitted in Parliament has revealed the PCB’s income and expenditures for the previous three years. As per the report, PCB generated a revenue of Rs10.77 billion allowing the board a profit of Rs.9.69 billion.

Earlier this month, the PCB reviewed the audit report of the first edition of the Pakistan Super League (PSL) in its Governing Council meeting. The findings of the report showed the profit earned by PCB – estimated to be $2.6 million – as well as the amount handed over to the five franchises, which was worth $2 million, leaving the board with $600,000 for itself. The PSL’s first edition, which was held in February 2016 in the UAE, saw five franchises compete for the silverware with Islamabad United crowned as the eventual winners. However, the owners had complained that lack of time for marketing before the event didn’t allow them to generate profits. Meanwhile, a PCB official was quoted as saying that this leverage would not be available in the second edition of the cash-rich T20 league. “Earning a profit in the very first edition was a landmark achievement,” said the PCB official. “We are expecting more income in the second edition.”