PCB to lose $85 mn if it fails to host India
The Pakistan Cricket Board (PCB) will lose revenues worth approximately USD 85 million from its long-term broadcasting deal if it fails to host India for a full series over the next three to four years.
A PCB official confirmed to PTI that the board was already looking at a estimated loss of around USD 70 million if India didn’t play the planned series in the UAE in December.
“The situation is such that if during the duration of the four-year broadcasting deal which is worth USD 145 million if we don’t host India at all than we lose nearly 65 per cent of the total amount which comes to around USD 85 million,” the official said.
He said apart from this major loss of revenues the PCB had estimated earnings of around USD 70 million from the planned series with India in December.
“No doubt if India doesn’t confirm the series which we will host it will hit us financially in the long run,” he said.
Another reliable source confirmed that under the agreement with the official broadcaster, the PCB need to host one or two home series against India in the duration of the contract.
“If that doesn’t happen there will be deductions in the total contract amount of USD 145 million.”
At present the PCB appears to be financially secure as it is said to have cash around USD 50 million in its kitty in different accounts besides some property and other assets in Lahore and Karachi.