highlights
During the World Cup, many Pakistani players had claimed that they had not received any payment for 5 months.
The PCB does not receive any grants or funding from the federal or provincial governments or the public treasury.
Pakistan The condition of Pakistan’s economy is not hidden from anyone. After more than a dozen bailouts, Pakistan’s financial condition is going through a critical phase. It is obvious that Pakistan Cricket Board (Pakistan Cricket Board)’s financial condition is also not much different. Just as the country’s economy is dependent on the International Monetary Fund (IMF), the PCB’s economy is dependent on the results of the matches played by its team on the cricket field. But there too, Pakistan is not getting the desired results like India. When India and Pakistan jointly hosted the World Cup in 1987, the economic condition of both the countries was more or less the same. But the situation changed with time. Board of Control for Cricket in India (Board of Control for Cricket) is the richest board in the world today.
This incident is not very old, when the Pakistan cricket team’s campaign in the World Cup played in the month of October last year was derailed due to the poor financial condition of its board. The poor performance had also exposed the managerial capabilities of its cricket board. During the world’s biggest cricket tournament, many of its players had claimed that they had not received any payment for five months. Pakistan’s World Cup journey was marred by disputes over players’ salaries and delays in their central contracts. When the team lost four of the first six matches, the Pakistan Cricket Board sent contracts with players to India, where the World Cup was being played. But by then it was too late.
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how to earn money
PCB has its own constitution and generates its own revenue. This money is spent for the development of cricket in the country. It does not receive any grants or funds from the federal or provincial governments or public treasury of Pakistan. To earn money he has to depend on his own resources. The PCB’s main income comes from the sale of its share from the International Cricket Council (ICC), the title sponsorship of the Pakistan Super League (PSL), and the broadcasting rights of the league, domestic and international matches.
ICC gets less share
When the ICC announced the revenue share percentage of the US$600 million pool of earnings during the 2024-2027 cycle, the PCB got a lesser share. The Board of Control for Cricket in India (BCCI) got the largest share as expected. BCCI earned US$230 million, which is 38.5 percent of ICC’s total revenue. PCB, on the other hand, got 5.75 percent of the total amount, earning it US$34.51 million.
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Difference in prize money also
The Indian Premier League (IPL) offers significantly higher prize money than the PSL, reflecting the huge difference in financial scale and global viewership between the two leagues. Lahore Qalandars were awarded a cash prize of approximately Pakistani rupees 3.40 crore for winning PSL 2023. Whereas in IPL, the winning team gets a prize of Rs 20 crore. Last season, Chennai Super Kings won the IPL title.
How much money does PCB have?
PCB’s total assets are $55 million and they are the second richest cricket board in Asia. But if compared with India, PCB is nowhere in front of it. The surprising thing about BCCI’s dominance is that it is miles ahead of other countries. The total assets of BCCI are estimated to be US $ 2.25 billion (about more than Rs 18,700 crore). Cricket Australia (CA) which is in second place with a total wealth of US$ 79 million (more than Rs 660 crore). This is the reason why BCCI keeps showering money on its players.
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Pakistan suffers loss due to ban in IPL
While IPL remains a major source of income for players around the world, this door is also closed for Pakistani players. This league made many players from other countries millionaires. But Pakistani players were banned from participating after the terrorist attack in Mumbai in 2008. This is also a reason why the financial headache of Pakistani players has increased further. 11 players from Pakistan participated in the first edition of the tournament played in 2008.
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Tags: BCCI, Cricket, ICC, Pakistan cricket team, Pcb
FIRST PUBLISHED: April 25, 2024, 15:10 IST