Cancellation of India series may cost Pakistan $85 million

Discussion in 'Pakistan' started by Blackwater, Nov 6, 2015.

  1. Blackwater

    Blackwater Veteran Member Veteran Member

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    The Pakistan Cricket Board (PCB) will lose revenues worth approximately $85 million from its long-term broadcasting deal if it fails to host India for a full series over the next three to four years.

    A PCB official confirmed that the board was already looking at a estimated loss of around $70 million if India didn’t play the planned series in the UAE in December.

    “The situation is such that if during the duration of the four-year broadcasting deal which is worth $145 million if we don’t host India at all than we lose nearly 65 per cent of the total amount which comes to around $85 million,” the official said.

    He said apart from this major loss of revenues the PCB had estimated earnings of around $70 million from the planned series with India in December.

    “No doubt if India doesn’t confirm the series which we will host it will hit us financially in the long run,” he said.

    Another reliable source confirmed that under the agreement with the official broadcaster, the PCB need to host one or two home series against India in the duration of the contract.

    “If that doesn’t happen there will be deductions in the total contract amount of $145 million.”

    At present the PCB appears to be financially secure as it is said to have cash around $50 million in its kitty in different accounts besides some property and other assets in Lahore and Karachi.

    “We have survived inspite of not being able to host a full Test series at home since 2009 because of the share we get from the ICC from participating in ICC events,” the source said.

    But he said at the moment another problem which the PCB was facing was to ensure that the much-hyped Pakistan Super League T20 project was not a financial burden on the board’s assets.

    “So far things have been difficult for the PSL secretariat because the expectations of big earnings from sale of broadcasting rights have not been realised and secondly lot of money is being spent on maintaining the secretariat and the travel and costs of its employees,” the source said.

    He said because of the PSL project the PCB was already paying a 50 per cent extra salary to those employees who were working on this project apart from their routine jobs in the board.

    The source said the success of the PSL will depend on how much the board eventually sells its broadcasting rights for and when the title and in stadia rights are bid for and sold on November 9 and 11.

    “The sale of rights for franchises will be held on November 18 or 19,” the source added.

    http://www.abplive.in/sports/cancellation-of-india-series-may-cost-pakistan-85-million-239848
     
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  3. Blackwater

    Blackwater Veteran Member Veteran Member

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    that is why shariyar so despo to come to india jaleel hone:biggrin2::biggrin2::biggrin2:


    paki gaerat kaha gayi:biggrin2::biggrin2:
     
  4. Kshatriya87

    Kshatriya87 Senior Member Senior Member

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    lag gayi vaat.. isiliye ro rahe hai sale
     
  5. Blackwater

    Blackwater Veteran Member Veteran Member

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    Indian series is making up more than 50 per cent of the budget : PCB:biggrin2::biggrin2::biggrin2::biggrin2:


    LAHORE: With Indian board’s refusal to play the bilateral series in the UAE exposing Pakistan Cricket Board’s (PCB) underbelly of potential financial losses, ways to deal with the subsequent monetary setbacks loomed large in the Board of Governors (BoG) meeting here on Tuesday.

    It was not only the losses the PCB might run into if the Indian team doesn’t visit the UAE for their scheduled bilateral series which dominated the meeting, the discussion also focused on the financial impacts of the first edition of the Pakistan Super League, scheduled next February.

    The BoG also ordered for contingency budgeting with regard to the gloomy financial situation arising from the BCCI’s refusal to play the scheduled series in the UAE. While the top-level meeting discussed several ways to cope with the losses, it also did not stop short of stating that the Board might undertake downsizing.

    “The BoG while sticking to its original stance of playing the ‘home’ series at neutral venues of the UAE, has decided not to go to India to play its ‘home’ series there,” PCB chairman Shaharyar Khan said after presiding over the 38th meeting of the BoG.

    “Obviously, the PCB will suffer financial losses in case of not playing against India but we have not been playing against them for the last seven years and we are still viable, playing our cricket,” asserted the chairman.

    Reading out a written statement, the PCB chairman said: “The BoG insists the BCCI should honour its pledge to play in the UAE as there is no reason to justify the BCCI asking PCB to play the series in India, particularly when there is no security issue in the UAE.”

    Talking about the high-profile PSL scheduled to be held in the UAE, the PCB chief said though the Board endorsed the idea of holding the league, it was also ready for the potential losses the first edition of the league might run into. “It is feared that the PSL might suffer little losses in the first season like the other leagues of the world but in next season it will start earning profit. So, in case of losses or remaining on even-break, there is no need to worry,” he further said.

    The gloomy financial scenario forced the BoG to prepare two budgets with one having income of the India series and the second without it. “The budget was also discussed and approved for the time being but many members urged the PCB to prepare two budgets with the one including the income generated from the India series and the second without it.

    “Actually, income from the Indian series is making up more than 50 per cent of the budget and if the series in question is cancelled we will have to reduce our budget to 50 per cent. It will have a huge impact on our budget but we will have to deal with it,” the chairman said.

    “When I was in India people kept on asking me that the PCB could go bankrupt in case India don’t play against Pakistan but I told them that we have not been able to play against India for the last seven years and despite all this we are doing good and will deliver more,” Shaharyar asserted. However he also expressed his worries, saying:

    “Financial losses are there in not playing against India. We have to bring the losses into the budget apart from tightening our belt by undertaking downsizing and many other steps to overcome any financial crisis in future.”

    When asked what the financial position of the PCB was at the moment, the chairman said he could not present any exact figure at the moment as he did not want to give any wrong figure.

    It may be mentioned here that when Zaka Ashraf left the PCB he had said that the PCB reserves were Rs5 billion but so far neither his successor Najam Sethi disclosed any such figure nor the incumbent chairman presented any official figure in this regard.

    Answering yet another question, Shaharyar maintained that there was no need to meet the prime minister in connection with the India series stating that the premier was well aware of the situation and was in a perfect position to take any decision.

    The chairman further said that if India was not willing to play the scheduled series in the UAE, the PCB would also not go to India to play the series adding that it would be premature at the moment to comment on Pakistan’s participation in next year’s World Twenty20 scheduled to be held in India.

    Also, the chairman clarified that the PCB would take advice from the government before taking any decision in connection with World T20.

    Expatiating on the MoU signed between the two boards, the PCB chairman said the MoU was not a complete contract as there was no clause in it to make it binding on India to play the series.

    However, as India had taken the benefits in the shape of Pakistan’s vote for the ‘Big-Three’ formula introduced in the ICC, it should now give PCB some benefits by honouring the MoU.

    The chairman said the PCB had many ways to raise the issue in the ICC but at present it was not appropriate to discuss.

    However, he dispelled the impression that the PCB had made a mistake by giving the vote in favour of the ‘Big Three’ arrangement in the ICC to get the MoU signed for the series.

    The chairman further said that it would take three to four days to finally announce the fate of the series against India.

    Published in Dawn, November 18th, 2015
     
  6. Screambowl

    Screambowl Senior Member Senior Member

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    let's cancel it :D ........................
     
  7. J.A.

    J.A. Militants

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    India planned to attack United Arab Emirates in war ?!
     
  8. mikhail

    mikhail Senior Member Senior Member

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    Dubne do saalo ko,aab aaya uth pahar ke niche!!These scumbags deserve to be screwed like this.Now they will understand that "Baniya" means business and one simply can't do any business related transaction by alienating the Baniya(India in this case).As long as their ilks are supporting terrorism in India we'll continue to pay them back in the same coins!!
     

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