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Islamabad United suffer financial losses despite PSL triumph

Financial statements relate to the first and second editions of the league

PHOTO COURTESY: Twitter/@PSL

Islamabad United have suffered major financial losses during the first and second editions of the league, despite lifting the Pakistan Super League (PSL) title in the inagural year. 

According to Daily Express, the defending PSL Champions suffered financial losses over Rs184.1 million and over $241.9 million in 2016 and 2017 respectively.

In first edition of the league, the franchise received over Rs135.9 million from the central pool and over Rs98.8 million from sponsorship deals.

From that income, they paid over Rs172.5 million to Pakistan Cricket Board (PCB) in terms of annual fee, over Rs162.3 million were spent on central expenses, over Rs25.8 on transportation, over Rs13.9 million on management and administration, over Rs8.6 million on merchandising and over Rs35.6 million on  advertisement.

In total, the franchise suffered losses over Rs184.1 million in 2016 despite lifting the title.

In second edition of the league, the losses were recorded over $241.9 million.

The franchise received over Rs105.6 million and over Rs77 million from the pool and sponsorship deal respectively.

They paid over Rs172.5 million in terms of annual fee to PCB, spent over Rs182.6 million on central expenses, over Rs12 million for transportation, over Rs20.2 million on management and administration, over Rs12.9 million on merchandising and over Rs23.7 million on advertisement.