PCB, coronavirus, financial position, PSL, Pakistan Cricket Board, PCB coronavirus

PCB says its financial position still stable amid coronavirus hit

Amid global coronavirus outbreak and its ramifications in the shape of PSL suspension, the Pakistan Cricket Board (PCB) says its financial standing is still intact and not affected as perceived.

According to ESPNCricinfo report, the PCB is set to incur an estimated loss of PKR 200 million (USD 1.2 million approx) in term of gate revenues alone following the postponement of the PSL’s semi-finals and final, and a loss of a further USD 3 to 4 million from not staging the remainder of Pakistan’s home series against Bangladesh in April.

The report says the PCB’s financial health is still sustainable for the next 12 to 14 months, according to its CEO Wasim Khan.

Since March 16, all professional cricket in Pakistan has come to a halt in the light of growing concerns around the COVID-19 (novel coronavirus) pandemic that is sweeping the globe. After the PSL, Pakistan was set for another month of home domestic and international cricket, with the Pakistan One-Day Cup and the final leg of Bangladesh’s tour of Pakistan. Amid all this, Pakistan’s five-year broadcasting deal and the kit sponsorship were about to end with the PCB preparing to seek out new deals; this means the board will not lose anything financially from their existing commercial deals.

It is pertinent to note here that Pakistan only had away tours to play in the five months after the scheduled end of their home season, with their next domestic season due to start in October, and their next home international series set for December. This has given the PCB a bit of breathing room.

The board has shut down cricketing operations at the National Cricket Academy (NCA) in Lahore, asking players and coaches to remain at home with all upcoming courses suspended infinitely.

The board’s offices are shut as well, with employees working from home.

The full report can be read here

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