PSL 2023 records staggering revenue of over PKR 5 billion

PSL Champions. (Photo Source: Twitter)

The eight edition of the Pakistan Super League (PSL) garnered massive success in terms of revenue as the Pakistan Cricket Board (PCB) generated PKR 5.62 billion in 2023. The apex cricket board has a profit-sharing formula of ‘5-95’ with the franchises, which essentially means that the PCB would earn 5% whereas the teams would get 95% of the share.

The revenue is generated from the title sponsorship, broadcasting, gate money, and other rights. The television broadcast deal is one of the major contributors to the league’s revenue which includes both domestic and international markets.

According to a report by Cricket Pakistan, the eight edition of the competition attained PKR 5.62 billion in revenue. As per the details, the PCB would earn PKR 582,534,480, while the franchises will collectively obtain PKR 5,046,776,989.

In addition to this, the broadcasting rights generated a humongous PKR 2,175,393,394, whereas an additional PKR 402,824,378 was earned from other countries. Most franchises are expected to make profit through sponsorship deals despite bearing production costs and franchise fees. However, Multan Sultans will be the only franchise that is likely to incur a loss due to the higher franchise fee.

The apex board earns in bumper amounts through franchise fees from the PSL. However, the participating teams have raised their objections with the accounts which includes ticketing, among other aspects.

Notably, PSL 2023 witnessed a sharp rise in the revenue as compared with the seventh edition – the previous edition generated profits of PKR 2.3 billion (USD 11,941,400 approx.) with the same ‘5-95’ profit sharing formula in place.

The board is already in talks to hold the next edition of the league in February and March, 2024. As the league could clash with the home series against West Indies, the board officials have informed the teams that they are likely to reschedule the international matches to have room for PSL 2024. New franchises and a Women’s league is in the pipeline for the next season, however, no official confirmation has been made in the regard.