Pakistan Faces Rs 738 Crore Loss In Hosting Champions Trophy, Cricket Players' Pay Cuts Paint A Grim Picture

The Pakistan Cricket Board (PCB) has reportedly suffered a staggering $85 million (Rs 737.8 crore) loss after hosting the ICC Champions Trophy, a tournament in which the national team played only one home match before being eliminated, as reported by Telegraph India.

Pakistan's Champions Trophy campaign was short-lived. The team suffered a defeat against New Zealand in Lahore, followed by a crucial loss to India in Dubai. Their third and final group-stage match against Bangladesh was abandoned due to rain, preventing any chance of redemption. 

With one loss and no wins, Pakistan exited the tournament early, leaving them with just one game on home soil, despite investments of $100 million (Rs 868 crore) made in hosting the event.

According to a Telegraph India report, the PCB had initially allocated funds to upgrade the tournament venues in Rawalpindi, Lahore, and Karachi, but the costs quickly spiralled out of control. 

While the initial budget was set at PKR 12 billion (around $40 million), the final expenditure shot up to PKR 18 billion ($58 million)—50 per cent more than anticipated. 

Despite these massive investments, revenues from the tournament were alarmingly low. The PCB reportedly received just $6 million as a hosting fee, while ticket sales and sponsorship earnings contributed only a negligible amount.

This massive financial disparity resulted in an overall net loss of over $85 million, placing significant strain on the board's finances.

The financial fallout has already begun affecting the domestic cricket structure in Pakistan. According to Dawn, the PCB quietly implemented drastic cost-cutting measures, including a reduction in match fees from PKR 40,000 to PKR 10,000, although PCB chairman Mohsin Naqvi later intervened to reassess the decision. 

Additionally, 5-star accommodations for players were downgraded to economy hotels, further highlighting the financial distress the board now faces.