The Pakistan Cricket Board (PCB) on Thursday (March 20) dismissed claims of monetary loss after hosting the ICC Champions Trophy 2025, saying that it earned approximately USD 10 million as profit.

PCB spokesperson, Aamir Mir and Chief Financial Officer (CFO) Javed Murtaza addressed media after some reports emerged alleging that the board had suffered huge financial setback by hosting the ODI tournament and spending whopping amounts on the upgradation of stadiums in Karachi, Lahore and Rawalpindi.

"All expenses for the tournament were covered by the ICC," Mir said adding that the PCB generated revenue through gate money and ticket sales.

"Additionally, after the audit, we expect to receive another Rs 3 billion from the ICC," he added.

He also claimed that PCB had initially hoped for Rs 2 billion in earnings from the Champions Trophy, but they surpassed this target. He further stated that the PCB’s total revenue for the 2023-24 fiscal year reached Rs 10 billion—a 40% increase from the previous year.

"With this financial strength, PCB now ranks among the top three richest cricket boards in the world. The board has also paid Rs 40 million in taxes," Mir said.

Murtaza highlighted the critical rile of PCB chief Mohsin Naqvi played in revising the fiscal targets. He also added that the PCB had several financial investments and that the budget for stadium renovations was set at Rs 18 billion.

For Phase one of the project, Rs 12 billion was allocated, and Rs 10.5 billion has already been spent, he revealed.

"The remaining funds will be used to further improve these and other stadiums, including those in Karachi, Faisalabad, and Rawalpindi," said Murtaza.

The CFO said that the PCB had carried out major renovations in just four months, ensuring that venues now meet international standards.

"After 29 years, a major stadium upgrade project was undertaken, which was a significant task," Mir remarked.

Talking about the reduction in salaries of domestic men's and women's players, Mir said chairman Naqvi had reversed the decision of pay cut.

Regarding the absence of PCB officials from the ICC Champions Trophy 2025 final presentation ceremony, the officials said they are still awaiting a full explanation from the ICC.

Murtaza said very soon the PCB would make available all its financial details relating to the Champions Trophy on the Board's official website for transparency.

(With PTI Inputs)