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Investment review in sports leagues: financial evidence from Pakistan Super League

Rehan Aftab (FSM, FAST-NU, Islamabad, Pakistan)
Muhammad Naveed (Faculty of Management Sciences, SZABIST, Islamabad, Pakistan)

Managerial Finance

ISSN: 0307-4358

Article publication date: 28 August 2020

Issue publication date: 3 June 2021




The study invites seminal investigation on potential of investment returns in professional sports leagues. In line with scope of research, the analysis of this study brings into focus the Pakistan Cricket Board (PCB) and franchises pertinent to Pakistan Super League (PSL) for investment appraisal and returns analysis.


The methodical aspect of research deals with financial ratios and sensitivity analysis capturing the potential of returns on investment for target sample of study.


The investment appraisal substantiates the significance of potential returns on sports projects. The returns of investment reports sluggish seasonal returns during initial phase of PSL; however, return on investment (ROI) optimized with the maturity and further capitalization of Pakistan Supper League in more concentrated competitive environment. Sensitivity analysis proves variability of returns with changes in growth prospect of franchises.

Research limitations/implications

The study provides important working knowledge for existing and potential new investors and sports boards to consider the financial investment feasibility through customized investment models and relative orientations of promotion of sports, new talent hunting and re-fabricating the structure of sports in line with new age.


The efficacy of research is ensured through empirical verification of data obtained from reliable sources, and the novelty of research comes from investment appraisal and analysis of growing sports league familiarized as Pakistan Super League. The research approach and target sample are quite unique in context of sports leagues literature.



The authors thank to anonymous referees for their valuable comments and editor of this special issue who remained supportive right from the beginning of writeup. The authors also thank to our friends and colleagues for their fair contribution in promoting this published idea and discussion.


Aftab, R. and Naveed, M. (2021), "Investment review in sports leagues: financial evidence from Pakistan Super League", Managerial Finance, Vol. 47 No. 6, pp. 856-867.



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