PCB earns bumper profits after organising PSL-7

The Pakistan Cricket Board has ended up with bumper profits of PKR 2.3 billion (USD 11,941,400 approx.) as a result of organising PSL-7 this year.

REPRESENTATIVE IMAGE: According to a PCB spokesman, at least five of the six franchises in PSL-7 would make profits this year.

The Pakistan Cricket Board (PCB) ended up with bumper profits of PKR 2.3 billion (USD 11,941,400 approx.) after organising the 7th edition of the Pakistan Super League this year.

A PCB spokesman said he could not disclose the sum of money to be distributed to the six participating teams due to confidentiality clauses. “We have declared our profit from the PSL as it is our profit but we can't disclose the profits that will be given to the franchises,” he said.

This could be the highest profit earned by the PCB as a result of arranging the PSL since it was launched in 2016. The PCB has a ‘5-95’ profit sharing formula with the franchises. The revenue is earned from broadcasting, title sponsorship, gate money and other rights.

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The official admitted that due to the COVID-19 pandemic, the board had to distribute PKR one billion to the franchises to make up for their operating losses during PSL-5 and PSL-6.

Thanks to a profitable season, the reserve funds of the board had also jumped from PKR 12 billion to 15 billion this fiscal year. “Given the fact that because of the COVID pandemic since 2020 many cricket boards have suffered losses of revenues and faced desperate times the PCB has not only managed to stay secure but even made profits from the PSL,” the official stated.

He said at least five of the six franchises in PSL-7 would make profits this year.