The Pakistan Cricket Board (PCB) has refuted reports suggesting financial losses from hosting the ICC Champions Trophy, asserting that the tournament significantly boosted its revenue.
At a press conference, PCB spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza rejected claims made in Indian media, emphasizing that the board earned Rs 3 billion from the event.
“All expenses for the tournament were covered by the ICC,” Mir stated. “PCB generated revenue through gate money and ticket sales, and after the audit, we expect an additional Rs 3 billion from the ICC.”
He further noted that PCB’s initial target of Rs 2 billion in earnings from the Champions Trophy will be exceeded.
Mir credited PCB Chairman Mohsin Naqvi for enhancing the board’s financial standing, revealing that total revenue for the 2023-24 fiscal year reached Rs 10 billion—a 40% increase.
“With this financial strength, PCB ranks among the top three richest cricket boards globally,” Mir added. “The board has also paid Rs 40 million in taxes.”
Murtaza highlighted Naqvi’s key role in revising financial targets for the fiscal year, showcasing his active involvement in strengthening PCB’s economic outlook.
Mir also emphasized the rapid renovation of stadiums under Naqvi’s leadership, stating that PCB completed significant upgrades within just four months. “After 29 years, a major stadium upgrade was undertaken, ensuring that venues met international standards,” he said.
Providing details on infrastructure investments, Murtaza confirmed that the 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 to further improve these and other stadiums.”
The PCB plans to continue renovations in its next phase, focusing on stadiums in Karachi, Faisalabad, and Rawalpindi to enhance cricket facilities nationwide.
