The Pakistan Auditor Common‘s workplace, in its audit report, has revealed substantial income losses for the Pakistan Cricket Board (PCB) within the hundreds of thousands of rupees as a result of monetary sharing mannequin with the six franchises and numerous irregularities inside the Pakistan Tremendous League (PSL).
Media studies spotlight that the PCB went to nice lengths to mission a optimistic monetary picture of the PSL as a model, opposite to the issues raised by the Auditor Common’s report.The report suggests a necessity for a complete investigation into the monetary mannequin and associated issues of the PSL.
Opposite to public notion, the audit report signifies that the PCB incurred losses from the PSL following changes to the league’s monetary mannequin. The losses primarily stem from alterations within the profit-sharing association regarding the central income pool generated by the PSL.
The report discloses a big lack of 1,637,977 million rupees as a result of a rise within the share allotted to PSL franchises from the central pool. Notably, any modifications to the monetary settlement had been purported to be made solely after the completion of the 10-year settlement in 2025.
Ranging from the fifth version of the league, the audit report factors out that the PCB suffered losses as a result of modifications in profit-sharing percentages. Franchises’ share in media rights elevated to 80%, leaving solely 20% for the board.
Equally, sponsorship rights had been divided with 40% going to franchises and 60% to the board, whereas ticket gross sales noticed 90% going to franchises and solely 10% to the PCB. This resulted in a missed potential income of 810 million rupees.
The monetary setback escalated to 827 million rupees within the sixth version, and the audit report predicts a considerable potential lack of 10,751 million rupees for the board from the seventh to the twelfth version if the profit-sharing system continues favoring the franchises.
Moreover, the report highlights income losses through the sixth and seventh editions of the PSL, which coincided with the Covid pandemic. Elevated bills associated to journey, lodging, match charges and medical prices amounted to 178 million rupees. Extra manufacturing bills of two.423 million {dollars} (545.175 million rupees) had been incurred, and the report suggests a necessity for additional investigation as these prices had been purported to be lined by the franchises.
The audit report factors out lapses in securing financial institution ensures from franchises, jeopardizing important PSL earnings. Within the fifth version, the board didn’t safe required financial institution ensures, placing 3,293 million rupees in danger.
Furthermore, the report raises issues in regards to the PCB not deducting earnings tax from prize cash awarded to match-winning gamers within the fifth and sixth editions, resulting in losses for the nationwide treasury.
Media studies spotlight that the PCB went to nice lengths to mission a optimistic monetary picture of the PSL as a model, opposite to the issues raised by the Auditor Common’s report.The report suggests a necessity for a complete investigation into the monetary mannequin and associated issues of the PSL.
Opposite to public notion, the audit report signifies that the PCB incurred losses from the PSL following changes to the league’s monetary mannequin. The losses primarily stem from alterations within the profit-sharing association regarding the central income pool generated by the PSL.
The report discloses a big lack of 1,637,977 million rupees as a result of a rise within the share allotted to PSL franchises from the central pool. Notably, any modifications to the monetary settlement had been purported to be made solely after the completion of the 10-year settlement in 2025.
Ranging from the fifth version of the league, the audit report factors out that the PCB suffered losses as a result of modifications in profit-sharing percentages. Franchises’ share in media rights elevated to 80%, leaving solely 20% for the board.
Equally, sponsorship rights had been divided with 40% going to franchises and 60% to the board, whereas ticket gross sales noticed 90% going to franchises and solely 10% to the PCB. This resulted in a missed potential income of 810 million rupees.
The monetary setback escalated to 827 million rupees within the sixth version, and the audit report predicts a considerable potential lack of 10,751 million rupees for the board from the seventh to the twelfth version if the profit-sharing system continues favoring the franchises.
Moreover, the report highlights income losses through the sixth and seventh editions of the PSL, which coincided with the Covid pandemic. Elevated bills associated to journey, lodging, match charges and medical prices amounted to 178 million rupees. Extra manufacturing bills of two.423 million {dollars} (545.175 million rupees) had been incurred, and the report suggests a necessity for additional investigation as these prices had been purported to be lined by the franchises.
The audit report factors out lapses in securing financial institution ensures from franchises, jeopardizing important PSL earnings. Within the fifth version, the board didn’t safe required financial institution ensures, placing 3,293 million rupees in danger.
Furthermore, the report raises issues in regards to the PCB not deducting earnings tax from prize cash awarded to match-winning gamers within the fifth and sixth editions, resulting in losses for the nationwide treasury.
