Sponsorship deals have saved Pakistan Super League (PSL) franchise Karachi Kings from big financial losses.
According to a report obtained by Daily Express, the franchise suffered losses of Rs117 million and Rs60.8 million in first and second edition of the league respectively.
In 2016, the franchise received income of Rs220 million while in 2017, the income had increased up to Rs390 million.
The franchise received Rs129 million from the central pool while Rs216million from sponsorship deal, stated in report.
From this amount, the Kings had paid Rs425.2 million to the Pakistan Cricket Board (PCB) in terms of annual fee. They also paid Rs0.2 million advisory fee, Rs4.8 million for hotel, Rs3 million to team management and Rs10 million for advertising.
According to report, Karachi Kings also spent Rs0.2 million for media, Rs4.6 million for brand equitation, Rs15 million for promotions, while Rs1.3 million for other expenses. Collectively, the franchise suffered Rs117 million loss in 2016 edition.
Similarly, in 2017, the team received Rs118.6 million from the pool, Rs395.1 million from sponsorship deal and Rs2 million from other sources.
The franchise paid Rs299.2 million annual fee to PCB, Rs201 million match fee, Rs2.5 million for kits, Rs52 thousand for hotel, Rs0.5 million for insurance, Rs19.8 million for salaries, Rs1.6 million to team management, Rs37.8 million for advertisement, Rs25 million for promotions while Rs2.2 million for media.
Karachi Kings also paid Rs3.9 million for brand equitation, and Rs3.1 million in other expenses.
Earlier, The Pakistan Cricket Board (PCB) today has announced the consortium of Blitz Advertising and Techfront as its broadcast and live-streaming partner for the star-studded Pakistan Super League from 2019 to 2021.
While the final figure on the agreement will remain confidential, the new agreement is 358 per cent more than the previous three years of one of the most competitive and well-organised tournaments on the planet.
With the broadcast and live-streaming rights now finalized, further details on local and foreign TV channels, which will air live action of the PSL 2019 from February 14, will be finalized and then released in due course.
The new rights cycle renews a time-tested partnership between Pakistan Cricket Board, Blitz Advertising and Techfront.
Blitz Advertising is part of Pakistan’s largest full service communications group with nationwide presence and represents Publicis Media, the world’s premier media management group in Pakistan.
Techfront, a UAE-based affiliate of Global Sports Commerce (GSC), is one of the largest sports technology and management companies providing dynamic solutions and commercial management to leading sports stakeholders.
(This article include content from Cricket Pakistan / The News)