PCB, PSL franchises resolve differences

The PCB also shared the financial report of the fourth edition of the league

PCB, PSL franchises resolve differences PHOTO: PCB

The Pakistan Cricket Board (PCB) has approved most of the requests made by the Habib Bank Limited (HBL) Pakistan Super League (PSL) franchises, marking an end to the troubled relations between the two sides, during a Governing Council Meeting in Karachi on Monday.

In the next edition of the PSL, the PCB will not ask for bank guarantees and instead take a cheque for the entire fees from the franchises.

The PCB also shared the financial report of the fourth edition of the PSL and announced a profit of PKR 270,000,000 per franchise. However, this amount will be subject to the deduction of expenditures.

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A fixed dollar rate has been set which will now be PKR 138. A new revenue model was also discussed at great lengths but it will be finalised at a later date. A new model of home and away matches was also presented by officials whereby each franchise would organise its own matches and claim the profits in their entirety.

The player draft for the fifth edition of the PSL has been scheduled for the end of November. The player budget has now been reduced to US$ 1100,000 per franchise.

The biggest resolution was that of the issue bank guarantees which had irked franchise owners and created a deadlock between the parties involved. The resolution of this issue will now reduce the financial burden on the franchises.