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Clarification: PSL profits eight times higher than projected

LAHORE – May 20, 2016: While publishing PCB/PSL Council’s clarification today (May 20, 2016), Dawn’s Lahore Sports Reporter has again misrepresented the facts viz ‘No joyriders entertained at PSL, clarifies PCB.’

"The correct position was explained by PSL chairman Najam Sethi two weeks ago but seems to have escaped notice.

“The estimated cost of the PSL was not jacked up from USD 60 million to over USD 90 million – reducing PSL’s profits to just USD 2.6million-- as alleged by your reporter. In actual fact, the budgeted Operating costs were $4.17m while the actual Operating expenditure was $4.22m, showing a very small addition of only $50,000. The total budgeted expenditure was $7.71 while the actual was $8.93m largely on account of higher venue hiring fees of Dubai and Sharjah stadiums and sanction fee of Emirates Cricket Board.”  

“On the other hand, the budgeted profit was $310,000 but the actual profit turned out to be $2.6m--- eight times higher than projected.

“As far as the number of journalists sent over to the UAE to report on PSL, this too is far lower than the randomly reported 70 by you. The fact is that only 46 journalists from across print, electronic and digital media were sponsored. The rationale and objective was purely professional, as in PSL Council’s assessment obtaining optimal projection for the event was likely to accrue higher yields from marketing/merchandising in the subsequent seasons, thus not only offsetting the cost on this account but gaining handsome dividend. The strategy of positive image-building of the event has been deemed as successful by independent feedback.”