PSL News

PSL franchises declared war against PCB

The Pakistan Super League (PSL) franchises have declared a war against PCB as they have formed an unofficial alliance in order to safeguard their interests.

According to Daily Express, the franchises — except for one — have signed a Power of Attorney (POA) document which gives one unnamed franchise owner the right to take decisions on their behalf — including legal action.

The franchise may differ on PSL’s revenue-sharing model but — in order to ensure their common interests remain safe — they have decided to collude.

The report further stated that all the franchises met after Pakistan Cricket Board (PCB)’s Governing Council meeting in Islamabad — few days back — where this decision regarding POA was taken.

The franchises are also concerned about taxes — paid to Federal and Punjab Government — and are pondering over the option of going to court over this matter.

It must be noted that, earlier, the board and franchises had requested the government to remove these taxes but got a negative response in this regard.

Currently, franchises have to pay 26% amount in taxes, where 16% of the amount goes to Punjab Government in shape of sales tax while the federal government takes remaining 10% in the form of withholding tax.

The Pakistan Cricket Board (PCB) has threatened to cash bank guarantee if Pakistan Super League (PSL) franchises failed to deposit their annual fees by 2 PM on December 3.

The situation became tense suddenly on Wednesday when PCB’s Chief Financial Officer Badar Manzoor sent an email to all the franchises.

According to Daily Express, he used some threating words in the email and gave the deadline of December 3 to clear all dues or the board will cash their bank guarantees.

Interestingly, one franchise hasn’t even deposited its bank guarantee yet. The franchise has only deposited half of the actual amount.

Also Read:  PCB opens bids for rights to PSL’s sixth team

According to the procedure, the board has a legal right to cash the bank guarantee after issuing notice to the defaulter franchises — a procedure which the board adopted earlier as well.

Franchises are unhappy with this behavior of the board as they are currently negotiating with the government to get relaxation in taxes.

The board had issued the invoice on November 16 and asked all franchises to immediately clear their remaining dues.

During the meeting in Islamabad, a franchise owner had asked the PCB chairman Ehsan Mani to return their bank guarantee so they will be able to pay the annual fee.

Following that demand, others joined in over the same stance, a source from inside the board reported. However, the board refused to accept this demand.

Via: Daily Express / Cricket Pakistan / ESPNcricinfo

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  1. Pingback: PCB decided to resume talks with Australia to play two ODIs in Karachi – Green Team

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