In a press release, the franchises expressed their reservations over PSL financial model
The Pakistan Super League (PSL) franchises have issued a joint statement, after filing a lawsuit against the Pakistan Cricket Board (PCB) in the Lahore High Court (LHC) over the tournament’s financial model.
In a press release, the franchises expressed their reservations over PSL’s financial model while also claiming that PCB did not take their concerns seriously during discussions.
“While the Franchisees have been dedicated towards realizing the vision and goal of the promotion and development of the sport of cricket and at the same time building a positive image of Pakistan, unfortunately, we have serious reservations with the existing financial arrangement and model of PSL,” the statement said. “PCB has demonstrated an unwillingness to discuss, deliberate or revise the arrangement in a serious manner forcing the hand of the Franchisees time and again…”
The franchises reiterated that the PSL has been profitable for PCB at a time when they were suffering heavy losses.
“Since the inception of the league, the Franchisees have collectively suffered losses in billions of rupees while the PCB has made billions…In light of the losses suffered by us over the past five seasons and PCB’s constant unwillingness to consider our grievances seriously, all six Franchisees have been constrained to approach the Honorable Lahore High Court against PCB…,” the statement added.
The statement also opened up on the contents of the Writ Petition filed by the franchises.
“The petitioners had contended in the Writ Petition that the existing model of PSL both in administrative and contractual sense is contradicting the objects and purpose of promoting cricket in Pakistan which is a statutory mandate of PCB under The Sports (Development & Control) Ordinance 1962,” the press release further stated.
Although, all six franchises expressed their desire to find a solution which was beneficial for all parties involved.
“We would like to reiterate at this juncture our firm commitment to the sport and clarify that PSL Franchisees have always tried to solve their disputes with PCB amicably and without the interference of a third party….We are committed towards finding a workable solution and making PSL a success for everyone involved,” the statement concluded.
It must be noted that LHC has ordered the PCB to submit its response by Wednesday, September 30, after the first hearing in the presence of Justice Muhammad Sajid Mehmood Sethi. The court has also barred the PCB from taking financial guarantees from franchises for PSL 6.
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