PCB in shambles after suffering a loss of over Rs 700 crore from hosting CT

In November 2021, the International Cricket Council (ICC) announced that Pakistan would host the ninth edition of the returning Champions Trophy in 2025. The Pakistan Cricket Board (PCB) was filled with joy as, for the first time since 1996, it got the chance to host an ICC event. However, it had no idea that this was just the beginning of a long trail of unfortunate events, likely culminating in a loss of over Rs 700 crore after spending around Rs 869 crore on the event.

 

Roadblocks before the tournament 

Things started to go sideways as soon as the calendar hit 2024. First, PCB was asked to host the event in a hybrid model to accommodate the Indian cricket team, which was denied permission to travel to Pakistan by its government. This decision eventually resulted in the final being hosted outside Pakistan. Then, the renovation work on the stadiums took longer than expected, putting PCB in an even worse light before the tournament began.

 

 

Underwhelming outing in the event 

Despite the early setbacks, PCB was confident that its team would be able to retain the trophy, as the event was being played in its own backyard. However, things went exactly the opposite of what PCB had planned. Pakistan failed to win any of its three games, losing to India and New Zealand, while its match against Bangladesh was washed out. On the other hand, its arch-rival India reached the final, taking the title clash to Dubai, and eventually won the tournament, further damaging PCB’s revenue generation. 

 

Poor planning and the butterfly effect leading to losses 

The theory of the butterfly effect, which states that a small change in initial conditions can lead to dramatically different outcomes in complex systems, now seems the proper description of PCB’s current condition. PCB suffered an almost 85 per cent loss (Rs 700 crore) on the amount it spent on hosting the event (approximately Rs 869 crore), as its team played only one full game at home—the tournament opener against New Zealand.

 

According to The Telegraph, PCB spent PKR 18 billion (approximately Rs 4,820 crore) upgrading venues in Rawalpindi, Lahore, and Karachi—50 per cent over budget. An additional $40 million (Rs 332 crore) was spent on event preparations, but it earned only $6 million (Rs 50 crore) from hosting fees, ticket sales, and sponsorships, resulting in a loss of around $85 million (Rs 705 crore).

 

After-effects of the massive loss 

The Telegraph report also highlighted that players faced severe consequences due to PCB’s financial mismanagement. Match fees in the national T20 championship were slashed by 90 per cent, while reserve player payments were reduced by 87.5 per cent. The report stated that while cricketers, who were previously accommodated in five-star hotels, were now staying in budget accommodations, administrators continued to receive high salaries.

 

According to Dawn, PCB initially reduced match fees from Rs 40,000 to Rs 10,000 without an official announcement. However, the report mentioned that PCB chairman Mohsin Naqvi later intervened, rejecting the decision and directing the domestic cricket department to reassess the matter. While PCB has not officially disclosed the revised amount, sources suggested that a revision was underway.