Sponsorship deals save Karachi Kings from major financial losses

PSL franchise received Rs220 million in 2016, while income increased up to Rs390 million in 2017

Sponsorship deals save Karachi Kings from major financial losses PHOTO COURTESY: Twitter/@KarachiKingsARY

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.

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.

They 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.