The Pakistan Super League (PSL) franchises have filed a case, in the Lahore High Court, against the Pakistan Cricket Board (PCB) after the latter failed to address their reservations over the tournament’s financial model.
According to details, the franchises filed the case with help of renowned lawyers, Ahmer Bilal Soofi and Salman Akram Raja, after suffering major losses due to the currently used financial model over the course of last five years.
The franchises were hoping that the league would be profitable for them, after the fifth edition took place in Pakistan, with the playoffs scheduled to be played in November, instead of UAE but that was not the case.
Over the past few months, the relationship between the PCB and the franchises had turned sour while the cancellation of governing council’s meeting, towards the end of July, took matters to the point of no return.
The franchises were also not happy with the fact that the PCB had asked them to submit financial guarantee, by September 25, for the next season, even before the fifth edition has been completed, rather than addressing their grievances.
This process was followed in the first four editions of the league as well but, after insistence from franchises, PCB decided to accept post-dated cheques for the fifth edition. Back then, the team owners were of the opinion that the league is now in a more stable position which is why the PCB should trust them with regards to fulfillment of financial obligations.
It was also decided that in the future, if any franchise fails to fulfill its financial commitments, the PCB will ask for a two-year guarantee instead of one.
Sources also confirmed that at least two franchises were not able to meet their financial obligations, during PSL 5, but it remains to be seen whether PCB will ask them to submit guarantee or post-dates cheques.
Sources close to the matter also stated that franchises were disappointed to see the PCB adopt this approach, while dealing with them, despite helping the board turn the league into a big brand. Although, they are now hopeful that the court will set things right in the near future.
It must be noted that PCB has already announced the schedule of the remaining four PSL 2020 matches, which were postponed on March 17 due to Covid-19 pandemic
The four matches will be held in Lahore on November 14, 15 and 17 with only the Qualifier and Eliminator 1 to be a double-header. Eliminator 2 will be played on the following day, while the event will conclude on Tuesday, 17 November.
Via: Cricket Pakistan / Agencies / Green Team Sources