Pakistan’s cricket woes continue to hit harder than a bouncer from Shaheen Afridi, except this time, the real damage isn’t on the pitch but in the Pakistan Cricket Board’s (PCB) wallet. Hosting the ICC Champions Trophy has left the PCB with an eye-watering $85 million (approx Rs 737 crore) loss, all for a tournament where they played just one game at home.
Pakistan’s Champions Trophy campaign began in Lahore, where they lost the opening match to New Zealand. Then they packed their bags for Dubai, suffered another defeat at the hands of India and had their final group match against Bangladesh rained off. In short, their campaign ended faster than a cup of chai cools down.
While their cricketing fortunes sank, their spending skyrocketed. According to a report by Telegraph India, PCB splashed a staggering PKR 18 billion ($58 million) on upgrading stadiums in Rawalpindi, Lahore and Karachi. This was 50% over and above the actual budget. Add another $40 million on event preparations.
The revenue was measly $6 million in hosting fees, with ticket sales and sponsorship earnings barely covering any expenditure, the report further noted.
With the light treasury after the tournament, PCB had to tighten its belt. Match fees for the National T20 Championship reportedly plummeted from Rs 40,000 to Rs 10,000, while reserve players saw a brutal 87.5% pay cut. Even 5-star hotels were ditched for budget stays, news reports said.
According to Pakistani newspaper Dawn, PCB chairman Mohsin Naqvi intervened and ordered a review of the cost-cutting measures.