PSL financial model turns out to be a matter of concern for PCB

PSL financial model turns out to be a matter of concern for PCB

The franchises had taken this matter to the court claiming that the current model is causing them loss where the Board is getting all the benefits.

Multan Sultans PSL 2021
Multan Sultans PSL 2021. (Photo Source: Twitter)

The Pakistan Cricket Board (PCB) is facing major concerns regarding the new financial model of the Pakistan Super League (PSL). Earlier, the board and the six PSL franchises were looking for ways to get on the same grounds in context to the financial model that satisfies both sides. The franchises had taken this matter to the court claiming that the current model is causing them loss whereas the Board is getting all the benefits.

However, an out-of-court settlement was agreed upon by the two parties before the Lahore High Court (LHC) in the later proceedings to make an attempt and discuss and deliberate the disagreements and other issues regarding the financial model. The PCB has thus signed a contract with EY Ford Rhodes, which happens to be a business management consulting company that would evaluate the financial records of the franchises and submit the reports. The conclusions of these reports would then be shared with a retired Supreme Court judge that the board has approached.

After the franchises get on the same opinions as that of the judge, the new model would be implemented. However, it is a known fact that the implementation will come with its own challenges that both sides will be aware of. To ensure that everything is in right place with the National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) the judicial review becomes pivotal as reported by Cricket Pakistan.

The new financial model possess concerns for the Pakistan Cricket Board

After the media reports have come out, some individuals have been putting their thinking hats on to go for legal options regarding the new financial model. As per them, they declined their interest in the bidding owing to the current financial model of the PSL. Thus, if tweaks are made to the financial model now, it won’t go right with the stakeholders. When asked about the matter, the Pakistan Cricket Board representative declined to comment anything about it.

Ahead of the start of the PSL, it is a big challenge for the board to get this sorted and going. The PSL was already hit with rescheduling issues as they are to host Australia in the window which is usually occupied by the tournament. It was likely to get clashed with the IPL but then it was announced that PSL will be played in Karachi and Lahore next year in January- February before Australia’s tour to avoid the clash with IPL.