PCB Suffers Massive Rs 869 Crore Loss Hosting ICC Champions Trophy, Cuts 5-Star Stay For Players

Pakistan's cricketing situation was already in turmoil, with the men's national team struggling to produce positive results on the international stage.

Now, the financial losses incurred by the Pakistan Cricket Board (PCB) in hosting the ICC Champions Trophy have reportedly left a major dent in its finances.

The PCB is believed to have suffered an astonishing loss of USD 85 million (approximately INR 869 crore) by hosting the tournament, despite playing only one match on home soil.

Pakistan began their Champions Trophy campaign with a loss to New Zealand in Lahore before travelling to Dubai, where they faced India. Their third and final group stage match against Bangladesh was abandoned without a ball being bowled. Having lost to both New Zealand and India, Pakistan were eliminated from the tournament, leaving them with just a single home fixture.

According to a report by The Telegraph India, the PCB spent approximately PKR 18 billion (around USD 58 million) on upgrading its three tournament venues-Rawalpindi, Lahore, and Karachi. However, the renovation costs exceeded the initial budget by 50%.

Additionally, the PCB reportedly allocated USD 40 million for event preparations. However, their returns were minimal, with the board receiving just USD 6 million as a hosting fee. Revenue from ticket sales and sponsorships was also negligible.

The report concluded that the PCB's overall losses from hosting the ICC Champions Trophy amounted to approximately USD 85 million. The repercussions of this financial setback soon became evident in the board's subsequent decisions.

To cut costs, the PCB management reduced match fees for the national T20 championship by 90% and slashed payments for reserve players by 87.5%.

According to Dawn, "The PCB had recently reduced match fees from Rs 40,000 to Rs 10,000 without any official announcement... however, PCB chairman Mohsin Naqvi intervened, rejecting the decision and instructing the board's domestic cricket department to reassess the matter."

Also, players who were previously accommodated in five-star hotels were instead provided with economy lodgings.however, PCB chairman Mohsin Naqvi intervened, rejecting the decision and instructing the board's domestic cricket department to reassess the matter."