PSL News

HBL Pakistan Super League 5 Draft could be delayed

Former Pakistan wicketkeeper-batsman Rashid Latif has said that the draft of Habib Bank Limited (HBL) Pakistan Super League (PSL) season five could be delayed due to multiple reasons.

According to details, Latif said that time constraints and availability of foreign players can prove to be a stumbling block with regards to holding the draft as per schedule — which is usually around November every year.

“PSL5 Draft could be delayed due to less time and availability of foreign players,” tweeted Latif.

Latif had also said that the HBL PSL is now financially stable but the board is deliberately not releasing payments to the franchises.

“PCB should release PSL4 profit to all 6 franchises. PCB’s profit margin is 200% but franchises are not happy,” he added.

Former wicketkeeper-batsman also criticised PCB over delaying payments to franchises.

Earlier, Rashid Latif lashed out at the Pakistan Cricket Board (PCB) for delaying payments to the Habib Bank Limited (HBL) Pakistan Super League (PSL) franchises.

According to details, Latif believes that the HBL PSL is now financially stable but the board is deliberately not releasing payments to the franchises.

“PSL is now financially stable but the PCB is deliberately delaying payments to franchises,” said Latif while talking during a Youtube video.

“The board had earned a lot during the last season but they are yet to reveal the financial statements. The franchises have been asking for the accounts for the past month or so, but the PCB has not done anything in this regard.”

The 50-year-old also spoke about the franchises’ request to remove the obligation of depositing bank guarantee.

“If PCB does not share revenue from previous season, how will the franchises deposit bank guarantee for next edition?” he said. “PCB is benefiting from delayed payments by earning interest on it, which is a wrong thing to do.”

Earlier, the franchises had refused to deposit bank guarantee, for the fifth edition of the country’s premier T20 league.

The franchise owners have reservations on several issues but one of the major areas of concern is regarding the financial accounts of previous edition. Nearly six months have passed but the PCB is yet to finalise the HBL PSL financial statements, which is why the franchises have decided against depositing bank guarantee.

The franchises are also of the opinion the PCB should no longer obtain bank guarantee because the league is now stable enough to operate without it.

The Pakistan Cricket Board (PCB) has made it a rule for the participating franchises to submit bank guarantees for the next edition six months before the start of the tournament.

But the franchise owners, after a recent meeting with PCB Chairman Ehsan Mani and officials have declared a war and made it clear that they will not be submitting bank guarantees until the board first sends them complete audited accounts of the fourth PSL edition.

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