PSL News

Peshawar Zalmi escape huge financial losses after 2017 triumph

Pakistan Super League (PSL) franchise Peshawar Zalmi managed to escape huge financial loses after lifting the title in 2017.

According to a report by Daily Express, the franchise received prize money of Rs52.3 million after lifting the title in 2017.

Due to that achievement, Zalmi suffered losses of over Rs20.1 million in that year as compared to over Rs237.2 million — which they suffered during the first edition of the league in 2016.

Earlier, ESPNcricinfo claimed that they obtained a copy of a letter that was sent by the PCB to the finance minister of Punjab, which includes consolidated financial details of the five franchises from the 2016 and 2017 seasons.

This is the letter that the PCB had erroneously sent to all franchises, inadvertently revealing the financial details of each franchise to the others, a slip-up that the PCB chairman Ehsan Mani had to apologise for.

According to report obtained by ESPNcricinfo, “The 2017 champions Peshawar Zalmi made a loss of PKR 237,233,858 in the opening season but reduced that ten-fold to PKR 20,152,767 in their winning season.”

From the central pool, Zalmi bagged Rs108.4 million, while they’ve also received Rs260 million from sponsorship deal.

From the amount, they paid Rs167.4 million to the Pakistan Cricket Board (PCB) as franchise’s annual fee and also paid deal allowances to the players estimated about Rs9.1 million.

In the means of transportation, former champions spent over Rs12.4 million. For residence they paid Rs13.8 million, Rs0.4 million for insurance, Rs0.5 million for warm-up matches, Rs1.5 million over late surcharge and over 33 thousand in others.

The franchise also paid Rs18.6 million salary to players and coaching staff, Rs4.5 million on merchandise, for promotion they spent Rs7.4 million, Rs3.7 million on foreign tours, Rs2.1 million for media, Rs4 million for advertising and Rs9.3 million on other expenses. In total they suffered loses of over Rs20.1 million in 2017.

PSL Finances 2016-17. Photo: ESPNcricinfo

“In 2016, the franchise had received Rs136.7 million in revenue. They haven’t revealed the income from sponsorship deal”, report claimed.

In terms of annual fee, the franchise paid Rs167.4 million to PCB, Rs2.9 million allowances to players, Rs1.5 million for kits, over Rs7.9 million for transportation, Rs11.1 million for hoteling, Rs0.5 million for insurance, Rs1 million for match tickets and spent over Rs0.4 million on others.

They also spent over Rs18.1 million for merchandising, over Rs0.1 million paid to Security and Exchange Commission of Pakistan (SECP), over Rs12.1 million were spent on foreign tours, Rs0.25 million were paid to auditors, Rs3.5 million were spent on promotions, over Rs12.7 million were spent on advertisement and over Rs7.8 million were spent on other expenses. In total, Zalmi suffered huge losses of Rs237.2 million in the first edition of the league, report stated.

(This article include content from Cricket Pakistan / ESPNcricinfo)

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