Pakistan Super League (PSL) franchises are unhappy with Pakistan Cricket Board (PCB)’s share in the revenue generated from sponsorship and broadcasting deals.
According to Daily Express, the franchises are unhappy with board’s 50 per cent share in the sponsorship deal and have decided to raise the issue in the upcoming governing council’s meeting in Islamabad on November 21.
The franchises don’t have any other substantial source of income so they rely heavily on the revenue from sponsorship and broadcasting deals.
The board had recently signed a title sponsorship deal of $14.30 million USD for next three editions of PSL in which both —franchises and the PCB — will share 50 per cent each.
A few officials of the board in an unofficial meeting with the owners have already assured to review their concerns in the meeting, the report further suggested.
Furthermore, franchises are also expected to face a cut in broadcasting deal share — which is currently at 80 per cent. The broadcasting rights tender will open later this month.
Another issue which is a cause of concern for the franchises is the broadcasting deal. PCB is expected to generate $75 million in the broadcasting right deal, out of 85% will be distributed among the franchises. The board has also not finalized the title sponsorship for the league as well.
Moreover, the franchises also want a change in the mode of payment to rupees due to constant fluctuations in dollar price. They are currently paying fees to the PCB in dollars as per their contracts but due to rise in value of the currency, they have to pay extra amount.
Earlier, The Pakistan Super League (PSL) franchise owners were also concerned about the tournament’s future following the departure of former Pakistan Cricket Board (PCB) chairman Najam Sethi.
Sethi resigned after Pakistan Tehreek-e-Insaf (PT)-led government was formed at the federal level and was replaced by former International Cricket Council (ICC) President Ehsan Mani in the board’s election which was conducted on September 4.
PSL was initiated under the leadership of Sethi three years ago and had three successful seasons till now.