PCB rejects perpetuity rights to PSL franchises

The Pakistan Cricket Board (PCB) has informed Pakistan Super League (PSL) franchises that they will not be granted perpetuity rights. This decision came after an online meeting held on Friday between franchise owners and PCB Chairman Mohsin Naqvi.

During the meeting, the franchise owners reiterated their long-standing demand for perpetuity rights, a request that has been a point of contention for some time. However, the PCB clarified that the existing agreements do not include provisions for such rights. Chairman Naqvi suggested a new bidding process however franchises didn't agree on this.

In an effort to reassure the franchises, the PCB has promised that the schedule clash of the PSL's tenth edition with the Indian Premier League (IPL) will not result in any financial losses. Additionally, the PCB is working to ensure the availability of foreign players for the tournament, addressing another critical concern of the franchises.

Following the meeting with the PCB, franchise owners held their own discussion to review and deliberate on the outcomes of the talks with the PCB chief. The decision has significant implications for the future structure and operations of the PSL, and further discussions are anticipated as the league continues to evolve.