HBL PSL franchises hesitant to deposit bank guarantee for next season

Owners have reservations on several issues which will be discussed in the next governing council meeting

PHOTO: Pakistan Super League

The Habib Bank Limited Pakistan Super League (HBL PSL) franchises are reluctant to deposit bank guarantee for the next edition of the tournament.

The Pakistan Cricket Board (PCB) had sent two letters to franchises regarding bank guarantee, however the franchises didn’t pay any heed to them.

PSL franchises have reservations on several issues which will be brought up in the next governing council meeting expected to take place either in the last week of July or first week of August.

According to sources, franchise owners feel its time PCB should get rid of the procedure of collecting bank guarantee and instead collect the annual fees only.

According to the current agreement, HBL PSL franchises have to deposit the bank guarantee one year prior to the next edition. However in previous edition, PCB had reduced the period to six months on the insistence of several franchises.

It is unlikely that PCB will get rid of the bank guarantee procedure since PCB have had difficulties in collecting annual fees from some franchises on previous occasions and had to cash the bank guarantee.

Clear dues or we will cash bank guarantee, PCB threatens PSL franchises

Franchises are also likely to demand an increase in the share of broadcast and ticket revenue. However the biggest agenda would be to set a fixed rate for dollar, based on which the annual fees would be paid. Another option available is to pay the fees in Pakistani rupees.

PCB had earlier insisted that since the league takes place in UAE, it is easier to do transactions in US dollar. However with the entire league likely to be held in Pakistan next year, franchises want to use Pakistani rupee as mode of payment, including for local player’s salaries.

Franchises are also looking to form a committee comprising of Director Cricket operations of all the teams. The committee will suggest players for different categories for the draft of the fifth edition of HBLPSL to the chief selector of Pakistan cricket team.