KARACHI: Pakistan Cricket Board, which has to host India for a series in December is on the verge of losing heavy revenues if it failed to host India in the coming four to five years. The Pakistan Cricket Board had went into an agreement with the Broadcasters ahead of the tournament being confirmed and has finally ended up to face heavy losses.
A Pakistan Cricket Board official confirmed that that board has estimated a loss of $70 million if it failed to host India in December at a neutral venue in UAE.
The PCB official said that it has went into an agreement with the broadcasters for a period of four years and will have to face a loss of USD 85 million if it failed to host India as per the deal. “The deal is such that we will lose 65% of the total broadcasting deal worth $145 million if we fail to host India in the coming years”, the PCB official said.
The PCB has estimated a planned income of $70 million over the series to be held in the month of December. The board is set to incur heavy revenue losses in the form of Broadcasting and expected revenues if the series gets cancelled due to the unfriendly relations between the two countries.
Last year the PCB has signed a MoU with the BCCI to play scheduled Test and ODI series with India. According to the MoU, the PCB should host India in December at a neutral venue. However, the existence of the series is in doubts as there isn’t a healthy relation between India and Pakistan at the border.
The ceasefire violations and the cancellations of the scheduled bilateral dialogues between the two neighbors lead to an unfriendly situation at the border. The BCCI assured Pakistan Cricket Board that it will seek the permission of the Central Government to play at UAE, the firstpost reported.
On the other hand, the PCB has been facing several issues in organizing the Pakistan Super League. The board said that it has been facing additional expenditure in the work around for PSL. The travel expenditure and the extra salary it is paying for them has made the situation problematic for the Pakistan Cricket Board. Pakistan has failed to host an international match with a high profile team since the terrorists attack on the touring Srilankan team in 2009, losing a major source of income.
The broadcasting and the title sponsorship rights of PSL, are scheduled to be bid on November 9th and 11th.