Cricket Business: PSL teams urge the PCB to revise financial model for league

The six franchises in the Pakistan Super League (PSL) have urged the Pakistan Cricket Board to revise the financial and ownership model of the tournament, arguing it is causing losses to them but benefitting the PCB.

PSL teams urges the PCB to revise financial model for the league
The franchises made the demand in a joint letter to the PCB. The relations between them strained after PCB excluded three franchises — Karachi, Lahore and Multan — from the negotiating table for defaulting on payments.

According to unofficial figures for the fifth edition of the PSL, which was postponed after league-stage matches due to the COVID-19 pandemic, franchises are expected to get around 20 to 22 crores each as their share from the earnings.

The franchises pointed out that they are spending far more than what they earn. They insisted that in future only the PCB Chairman or the CEO Wasim Khan should address future meetings between the franchises and the board.

The franchises had earlier sent a strongly worded email to the PCB after the last-minute cancelation of the governing council meeting which was scheduled for July 28.

The PCB had responded by saying that those franchises that have fulfilled their complete financial obligations will be called to discuss the issues.

The six franchises also claimed in their mail that the response of the board to their problems has been unprofessional.

The PCB remains uncertain whether to hold the remaining four matches of the PSL-5 or announce the winner on the basis of points table position after the completion of the league matches.

Apparently PCB stands to lose around three to four crores in holding the remaining four games including the final.