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PSL franchises reject rebidding process as part of revised financial model

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PSL franchises reject rebidding course of as a part of revised monetary mannequin

PCB chairman Ehsan Mani not too long ago met some staff house owners in Karachi

PHOTO: PSL

The Pakistan Tremendous League (PSL) franchises have collectively rejected the Pakistan Cricket Board’s (PCB) proposal for a rebidding course of as a part of the revised monetary mannequin.

In September, the franchises had filed a case towards the PCB within the Lahore Excessive Courtroom (LHC) after struggling main losses, as a result of present monetary mannequin, over the course of the final 5 years.

Later, within the proceedings earlier than the Lahore Excessive Courtroom (LHC) an out-of-court settlement was agreed upon between the events to deliberate and focus on the disagreements and different points related to the construction of the PSL.

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Based on sources, PCB had introduced two new monetary fashions to the franchises within the few conferences held thus far. The primary mannequin proposes the choice of rebidding, which the franchises have vehemently rejected. The franchises have suffered losses for 5 years and don’t need to threat their funding by going via the rebidding course of. Based on the aforementioned mannequin, the board won’t ask any for any price from the franchises. Nevertheless, the franchises will solely have 30 % share within the income whereas the board will retain 70 %. Based on the second proposed mannequin, franchises can have 90 % share in all industrial contracts. The staff house owners are but to approve this mannequin.

Sources additional added that PCB chairman Ehsan Mani not too long ago met some staff house owners in Karachi. He once more reiterated his limitations concerning accepting all of the calls for of the franchises. However, franchises imagine that PCB is now following the ‘divide and rule’ components, because the board officers at the moment are assembly all staff house owners individually.

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