PCB sends profit share of PSL 7 to franchises

The Pakistan Cricket Board (PCB) has sent the profit share of Pakistan Super League (PSL) season seven to the franchises.

PCB Chairman Ramiz Raja had announced a profit share of PKR 900 million after the conclusion of PSL 7 but during a media presser last month, he declared that each PSL franchise earned a profit of PKR 810 million.

However, the profit is less than half of the declared amount after deducting all the expenses. Some owners are unhappy over certain deductions while the breakdown of expenses were not shared with them too.

95% of the cost of TV production has to be given to franchises while hotel accommodation, travel expenses, daily allowance, event management, players' fees, and coaches' fees are also paid by the team. The minimum amount after deduction is PKR 420 million.

PCB had to give half of the revenue of PSL 7 to the franchises by May 5 as per the agreement but even after 2 months it did not happen. CFO had assured the team owners that 90% of the payment would be made in July while the remaining 10% is kept under the agreement until September.

The board also transferred the expenses of court case against the stakeholders on the franchises. The owners are unhappy, as former chairman Ehsan Mani had said many times that PCB would pay the amount.