PSL News

PCB gave 48-hour ultimatum to PSL Franchises

The Pakistan Cricket Board (PCB) and Pakistan Super League (PSL) franchises have come face to face once more. The board’s reluctance to raise the amount of revenue shared has left franchise owners unhappy.

PSL5 is scheduled to begin in three months however the deadlock between the PCB and the franchises continue to foster. The latest rift arose after the franchises put forward their demands to board officials with a united front.

All franchises have submitted cheques for the next edition of the PSL which can be cashed after November 20. The franchises have now asked to stop this process and have demanded an increase in the amount of revenue shared.

Pakistan Super League (PSL) franchises have been given a 48-hour ultimatum by the Pakistan Cricket Board (PCB) to fulfill all their financial obligations.

The franchises had put forward a number of demands in an email to the board with a united front. Their demands included an increase in the amount of PSL revenue shared as well as the completion of the accounts for the fourth edition of the league.

PCB was not pleased with franchises demands and gave a rather harsh reply to their email.

According to sources, PCB was not pleased with franchises demands and gave a rather harsh reply to the email. The reply came from PSL Head of Player Acquistion and Management Imran Ahmed Khan, who made it clear to the franchises that the board has already accepted a range of their demands.

According to PCB’s reply, the board agreed to set the dollar-rate at PKR 138, accepted post-dated cheques instead of a bank guarantee, reduced taxes and raised the amount of revenue shared after addressing franchise owners reservations.

The email ended with a warning to PSL franchises that if they do not adhere to the signed agreement, then all the aforementioned privileges will be revoked by the board.

Source further added that the latest rift can have serious consequences on the future of the league.

Some influential owners are considering the option of reaching out to high government officials. They believe that while the PCB is profiting from the league, the franchises are being left empty handed.

Franchises have also asked for the completion of the accounts for the fourth edition of the league. The franchises are now mulling over different options in case their demands aren’t met.

It should be noted that many demands of the franchises were accepted in the meeting that took place on September 30. However the demand of raising the sponsorship revenue share has still not been addressed.

According to sources, these issues are expected to be discussed in the next scheduled board of governors meeting.

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