PSL financial model: PCB refuses to share report with franchises

The Pakistan Cricket Board (PCB) has refused to share the report on the HBL Pakistan Super League (PSL)’s financial model with the franchises, following a judicial review.

According to sources, PCB Chief Operating Officer (COO) Salman Naseer has told the franchises that the Board of Governors (BoG) has advised that the report should be used for internal evaluation instead of sharing with the team owners.  

Naseer also said that newly-appointed PCB Chairman Ramiz Raja is keen on resolving PSL issues within a month and a governing council meeting could be called during the next two weeks.

Despite being unhappy over the fact that the report was not shared with them, franchise owners are hopeful that Raja will address their grievances soon.  

Last year in September, the franchises had filed a case against the PCB in the Lahore High Court (LHC) after suffering major losses, due to the current financial model, over the course of the last five years.

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Later, in the proceedings before the Lahore High Court (LHC) an out-of-court settlement was agreed upon between the parties to deliberate and discuss the disagreements and other issues associated with the financial model of the PSL.

PCB had taken the services of Justice (retd) Tassaduq Hussain Jillani in order to assist them in the implementation of the new financial model by carrying out a judicial review.  

The board had also signed a contract with EY Ford Rhodes, a business management consultant company, who assessed the financial records of franchises and submit their report. Those conclusions were shared with the retired judge, who then advised PCB on the most viable course of action.

If franchises agree with judge’s suggestions, the new financial model will be implemented. However, the implementation will not come without its challenges and franchises are aware of it.