PCB

Karachi: The Pakistan Cricket Board has managed to sell the title and ground rights of its forthcoming "home" series against South Africa and Sri Lanka in the United Arab Emirates for close to USD 1 . 3 million.
The PCB will this week open tenders for the sale of broadcasting rights of the two series.
In a meeting of the Governing Board held in Lahore under the Chairmanship of caretaker chief Najam Sethi, the Board confirmed the appointment of a foreign audit firm, M/s Ernest and Young to monitor the entire process of awarding of broadcasting rights for the two series.
PCB sells title rights for \'home series\' for USD 1 . 3 million
The PCB will this week open tenders for the sale of broadcasting rights of the two series.
Some officials have raised objections to the role of Sethi as caretaker Chairman in the bidding process for the media rights as he is affiliateThe PCB governing board has provisionally approved a budget of approximately rupees 3 billion ($29 million approximately) with a deficit of rupees 500 million for the year 2013-14. The much-awaited budget announcement, which came after a sacrifice of fowl.|leaving the|a|using} delay of almost two months, is a relief for the contracted players who, after not being paid their retainerships since January this year, have now been promised a 15 percent hike in their monthly retainerships. The budget hasn't offered a hike for the PCB employees.

Najam Sethi, the interim PCB chairman, presided over the governing board meeting to approve the provisional budget with three regional and three departmental/services heads, two technocrats and one of two former cricketers. Former wicket-keeper batsman Imtiaz Ahmad was not present due to personal commitments. The meeting went on for six hours at the National Cricket Academy and budget was the major agenda that dominated the meeting.

Compared to the previous budget, the PCB had a flat year as it failed to find any revenue, but it was also a less expensive year as Pakistan hosted only one limited-overs series against Australia in the UAE in August 2012. Pakistan also saved further expense as it did not host any international junior team tournament in the previous fiscal year.

The PCB had hoped the limited-overs series in India and the Pakistan Super League would help it overcome a shortfall of 70 crore rupees ($6. 7 million approx) in last year's budget, but it didn't go as per plan. India refused to share its revenue from the ODIs and the T20s, while the PSL was postponed over logistical issues. ESPNcricinfo, however , understands the reduction in deficit was the result of the abandoned home series with Bangladesh and various under-19 team tours to Pakistan within the fiscal year.

The budget was delayed over the Islamabad High Court's judgement which barred the interim PCB chairman to take major decisions. However , the PCB, after consultation with Pakistan Attorney General and the Ministry of Inter Provincial Coordination, has decided to approve the budget with a provision that the new full-time chairman can review it further.

IHC in its order, while disposing off a writ petition of removing Zaka Ashraf as the PCB chairman, had given a detailed decision on July 4 under which it has ordered the interim chairman Sethi to work as caretaker and hold election in 90 days to bring in a full-time elected chairman.

The chances of the generation of revenue in the upcoming year appear bleak but the PCB is hoping to further reduce the deficit through saying yes to slashes in management costs. The PCB is placed to market its broadcasting rights for the South Africa and Sri Lanka series on Aug thirty-one but the worth is not likely to hike in the budget.

The PCB continues to be faced with a monetary crisis for the reason that of groups declining to trip Pakistan due to protection issues adopting the assault within the Sri Lanka team tour bus last year. Since that time, Pakistan continues to be pushed to host groups in natural locations. The 2010-2011 budget was also in debt, prior to it had been increased through the significant payment that the ICC paid the board, subsequent Pakistan's elimination as co-host of the year 2011 Globe Mug. m with a top media team that is also one of the customers.
"Yes, a lot of people have raised this problem currently at the Governing Board meeting it had been created clear the Chairman may have absolutely no role to try out in the whole bidding process, inch a Board resource stated.
This individual stated it had been because of this that not just had the Board designated Ernest and Young as self-employed auditors to monitor the entire process but additionally created a bet panel, composed of and others former ICC Chairman Ehsan Mani and Proper rights Shabbir Hussain Rizvi.
The PCB's extensive broadcasting cope with the Dubai-based 10 Sports activities finished this year.
"The long-term offer is going to be bet away once the election process is total and the courtroom connaissance tend to be finished, inch the origin stated.
Each South Africa and Sri Lanka have refused to trip Pakistan due to protection factors making the Board to set up the fits in the UAE.