Follow Us on Google News
As Pakistan prepares to host the Champions Trophy in 2025, the Pakistan Cricket Board (PCB) is encountering financial challenges due to escalating renovation expenses for its stadiums.
According to media reports, Initially, the PCB projected that the costs for upgrading venues in Karachi, Lahore, and Rawalpindi would amount to 12.3 billion Pakistani rupees.
However, these expenses have now risen to 18 billion rupees, reflecting an increase of over 5 billion rupees (approximately USD 20.4 million).
In response to this unforeseen cost escalation, the PCB’s Board of Governors (BOG) has sanctioned the additional budget. Furthermore, the board has authorized its Chief Financial Officer (CFO) to arrange an overdraft ranging from 3 to 6 billion rupees if necessary to address the expenses for the current fiscal year.
A report by Dawn indicates that the PCB is bracing for a potential cash shortfall and may need external financial assistance to ensure the continuity of its operations.
Records from the BOG meeting indicate that, despite having reserves of around 26 billion rupees last year, the PCB was compelled to sell broadcast rights and other agreements for the 2024-26 period at a disappointing price of 1.70 billion rupees.
To enhance its revenue streams, the PCB intends to introduce two new teams to the Pakistan Super League (PSL) and to renegotiate its 10-year contracts with existing franchises, which are set to expire this year.
