PSL 2022: Franchises to have huge profit as PCB opts changes in financial model
The PSL franchises had been demanding a new financial model after incurring losses.
Updated - Jan 10, 2022 2:17 pm
The Pakistan Super League(PSL) franchises will finally be delighted after the new changes that have been inhibited into the financial model by the PCB. Ramiz Raja, the new PCB chairman has been doing a fantastic job so far in setting up the right platform for the game’s development in the country and the financial issues in PSL have been one of the talking points for a long time.
The new model will definitely work hugely in favor of certain franchises like Quetta Gladiators, Peshawar Zalmi, and Islamabad as they have been paying less when compared to Multan Sultans or the Lahore Qalandars. According to the new model, the central revenue pool has been increased as the PCB board has decided to give 95 percent of the revenue to the franchises following the complaints.
A massive rise in PSL’s brand value
Earlier, the PSL brand value had been around PKR 75,000 at the start while it has increased now to around PKR 1.3 million. According to sources from Cricket Pakistan, PCB did a television rights deal for PKR 4,350,786,786 while they bagged title sponsorship rights for around PKR 3.5 Billion. The live-streaming rights saw an increase of 175 percent which is massive for the popularity of the tournament going forward.
It is estimated that the Karachi Kings will also have a substantial profit in the new model despite them taking the Television right expenses. All these benefits have been possible only due to the introduction of Ramiz into the PCB committee which had earlier offered very less profits for the franchises. A lot of overseas players will now look into taking part in the tournament with the financial profits looking promising.
The PSL 2021-2022 season is scheduled to take place from the 27th of January to the 27th of February. The defending champions Karachi Kings will take on the Multan Sultans in the opening encounter. The venues for the tournament will be Lahore and Karachi due to the current Covid-19 situation getting worse. Shahid Afridi at 46 years of age will be playing this PSL season as he announced earlier.