Lahore Qalandars Spent Rs. 200 Million on Player Development Despite Massive Losses

Despite being the franchise with the most financial deficit during the first two seasons, Lahore Qalandars spent over Rs. 200 million on its Players Development Program, a report revealed on Thursday.

As per the report, Lahore Qalandars, the second most expensive team of Pakistan Super League received Rs. 136.1 million from the central pool and Rs. 171.2 million from the sponsorship deal in the first season of PSL.

This sums up to be over Rs. 307.1 million in total. The franchise, however, spent more than Rs. 700 million in total during the inaugural edition.

Here’s the detail:

• Rs. 284.4 million for an annual fee to PCB
• Rs. 134.6 million for match fee
• Rs. 12.8 million in consultancy fee
• Rs. 100.3 million for dresses and kits
• Rs. 30.1 million on travelling/transport
• Rs. 18.3 million for hotel rent
• Rs. 0.29 million for insurance
• Rs. 57.1 million in salaries
• Rs. 0.4 million for auditors
• Rs. 40.1 million for marketing
• Rs. 15.7 million on advertisement
• Rs. 108.4 million on Player Development Program
• Rs. 16.1 million on miscellaneous payments

Similarly, in 2017, the franchise received Rs. 108.6 million from the central pool and Rs. 243 million from the sponsorship deal with another additional amount of Rs. 0.5 million from other sources.

This added up to be a hefty amount of Rs. 352.8 million in revenue from PSL 2. The expenditure details are, however, way beyond the income.

Here’s the detail:

• Rs. 260.26 million for an annual fee to PCB
• Rs. 167.49 million for match fee
• Rs. 20.18 million in consultancy fee
• Rs. 13.75 million for dresses and kits
• Rs. 56.01 million on travelling/transport
• Rs. 62.93 million for hotel rent
• Rs. 0.52 million for insurance
• Rs. 39.01 million in salaries
• Rs. 0.5 million for auditors
• Rs. 49.8 million for marketing
• Rs. 24.9 million on advertisement
• Rs. 97.7 million on Player Development Program
• Rs. 23.61 million on miscellaneous payments
• Rs. 2.78 million for fee & subscription charges
• Rs. 19.5 million for operating expenses

This is how Qalandars bore a whopping financial loss of Rs. 420 million during the second season of Pakistan Super League.

Via: Express News