PCB, PSL franchises set to suffer massive losses after abrupt end to PSL

The Pakistan Cricket Board (PCB) and Pakistan Super League (PSL) franchises are set to suffer massive losses after the knockout stage of season five was postponed indefinitely due to coronavirus (COVID-19) scare.

According to details, the PCB was expecting the event to be a profitable one according to estimates before the beginning of the season but the unfortunate turn of events, due to COVID-19, is likely to result in massive losses.

Following advice from the Sindh and Punjab Government, the PCB had made the decision to stage Karachi and Lahore’s matches, from March 13 onwards, behind closed doors — which resulted in loss of revenue generated from gate-money.

The PCB had also rescheduled the remaining matches of the PSL 2020 by replacing the playoffs with semi-finals but the league was postponed indefinitely, after a foreign player was suspected with COVID-19.

Although the league matches are insured but the PCB cannot file an insurance claim, right now, because PSL 5 is currently suspended and not called-off. Sources have stated that, even if this year’s edition is called off, it remains unclear whether the claim will incorporate natural disaster into the equation.   

Sources further revealed that the broadcasters of the event are also likely to bear significant losses in this regard.

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The franchises were hoping that this year’s profits will help ease the burden of losses, they suffered in the previous seasons, but unfortunately that does not seem likely at the moment.

The PCB is yet to finalise the financial accounts of PSL 2019 so it the reasonable to expect that the details regarding this year’s edition will take some time before they are shared with media.

Also, the board is yet to take a decision on rescheduling the league but there are suggestions about giving this year’s title to the table-toppers, that is Multan Sultans, but some of the franchises are against this opinion.

Rescheduling remains a difficult task bearing in mind availability of foreign players and finding a window in the current cricket calendar. One of the options on the table is about holding the matches, few days before the beginning of next edition of the league.