The Pakistan Cricket Board (PCB) spokesperson Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza has dismissed reports of financial losses from hosting the ICC Champions Trophy, stating that the tournament contributed significantly to the board’s revenue.

Speaking at a press conference, the PCB spokespersons rejected claims made in Indian media, asserting that the board earned Rs 3 billion from the event.

“All expenses for the tournament were covered by the ICC,” Mir said. “PCB generated revenue through gate money and ticket sales, and after the audit, we expect an additional Rs 3 billion from the ICC.”

The spokesperson stated that the initial target of Rs 2 billion for PCB to earn from ICC Champions Trophy will be surpassed.

Financial growth under Mohsin Naqvi

Mir credited PCB Chairman Mohsin Naqvi for improving the board’s financial position, revealing that total revenue for the 2023-24 fiscal year reached Rs 10 billion—marking a 40% increase.

“With this financial strength, PCB ranks among the top three richest cricket boards globally,” he said. “The board has also paid Rs 40 million in taxes.”

Murtaza further stated that Mohsin Naqvi was crucial in revising set targets for the fiscal year, showcasing his involvement in the process.

Stadium upgrades and future plans

Mir highlighted the rapid renovation of stadiums under Naqvi’s leadership, stating that PCB completed significant upgrades in just four months. “After 29 years, a major stadium upgrade was undertaken, ensuring that venues met international standards,” he said.

Murtaza provided further details on PCB’s financial investments, confirming that the budget for stadium upgrades was set at PKR 18 billion.

“For Phase One, Rs 12 billion was allocated, with Rs 10.5 billion already utilised,” he said. “The remaining funds will be used to further improve these and other stadiums.”

He reiterated that the PCB in its next phase intends to improve stadiums in Karachi, Faisalabad, and Rawalpindi.

Domestic player compensation and ICC clarification

Addressing concerns over domestic players’ earnings, Mir confirmed that Naqvi had reversed the decision to reduce their salaries.

On PCB’s absence from the final stage of the ICC Champions Trophy, officials stated that they were awaiting a full explanation from the ICC.

PCB also announced that all financial figures related to the tournament’s earnings and expenses would be published on its website for transparency.