We will earn profit from Pakistan Super League: PCB

KARACHI (Monitoring Desk): Pakistan Cricket Board is confident of gaining profit from the Pakistan Super League despite the T20 competition was suspended at the semi-final stage due to the COVID-19 pandemic.

According to official sources, the PCB is set to make profits from four major commercial deals, including broadcasting and digital media.

“We will earn more compared to the four previous editions because majority of the matches (in earlier editions) had to be held in the UAE where we generally had low crowds and commercial deals were also not very profitable,” a source told PTI.

“The losses will come from four matches being held behind closed doors in Karachi and Lahore but the gate money receipts are minimal compared to the profits we will make from commercial, sponsorship and broadcasting deals.”

The PSL was on Tuesday suspended after the PCB revealed that a foreign player showed symptoms of the dreaded COVID-19. The PCB had also shortened the league by four days considering the worsening coronavirus situation but was forced to call it off on Tuesday.

One source said 24 off the 30 matches held before the semi-finals and final were full houses in Multan, Lahore, Rawalpindi and Karachi and gate money earnings were very good.

“But yes, some matches were hit by bad weather and reduced overs but we will still make good profits from the PSL this time despite four matches being held in empty stadiums,” he said.

He said the Board would refund money to ticket holders of the semi-finals and final. “We have already sent letter of intents to two of our commercial partners and we are expecting them to pay the amount by next week,” another source said.

He said the matches were insured as is the policy for all tournaments but the insurance was for matches being hit by terrorism, closure of airspace, fire.

“So we can’t make any claims as we postponed the matches due to the virus and other games were hit by bad weather.”

The source said the Board was still working out the exact profit figures and expenses would be known once everything is compiled and audited.

Meanwhile, the PCB has closed down its offices and the national cricket academy in Lahore and released coaches on leave because of the coronavirus outbreak.