PSL: Qalandars spend millions despite huge financial losses in first two seasons

Lahore Qalandars have spent millions of rupees on their player development programme despite suffering huge financial losses in first two editions of the Pakistan Super League (PSL).

According to Daily Express, the franchise — who have finished last in all three seasons — have suffered losses of over Rs320.7 million and Rs420.09 million in 2016 and 2017 respectively.

In terms of income, they received over Rs136 million from the pool and Rs171 million from sponsorship deals, in 2016.

From that income, the Qalandars paid over Rs264 million annual fee to the Pakistan Cricket Board (PCB), Rs12.8 million consultation fee and Rs134 million match fee. They spent Rs15.7 million for kits, Rs26.9 million for transportation, Rs18.3 million for hoteling and Rs0.2 million for insurance.

Franchise spent Rs57.2 million in terms of salaries, Rs4.7 million on travelling and conveyance, Rs0.4 million paid to auditors, Rs15.6 million on advertising, Rs108.4 million on brand equitation, Rs41.4 million on promotion, Rs13.5 million in other expenses and Rs25,997 were spent on other operating expenses.

They suffered total net losses of Rs320.7 million in first edition of the league.

During 2017, the Qalandars earned over Rs312.7 million from the pool and Rs243.4 million from sponsorship deal. They also earned Rs8.4 million from other sources.

From that income, they paid annual fee of Rs262.6 million to the PCB, Rs21.8 million consulting fee, Rs167.9 million match fee, Rs13.7 million on kits, Rs54.2 million on transportation, Rs62.2 million on hoteling, Rs0.5 million on insurance, in other expenses they spent Rs6.9 million, Rs39 million in salaries, Rs2.2 million on travelling and conveyance, Rs0.5 million paid to auditors, Rs2 million for fee and subscription and Rs24.9 million on advertisement.

They also paid Rs97.7 million on brand equitation, Rs49.8 million on promotion, Rs14.1 million in other expenses and they spent Rs19.5 million in other operating expenses.

In total they suffered losses of Rs420.09 million in 2017 edition.