PCB is deliberately delaying payments to PSL franchises: Latif

Former Pakistan captain Rashid Latif has lashed out at the Pakistan Cricket Board (PCB) for delaying payments to the Habib Bank Limited (HBL) Pakistan Super League (PSL) franchises.

According to details, Latif believes that the HBL PSL is now financially stable but the board is deliberately not releasing payments to the franchises.

“PSL is now financially stable but the PCB is deliberately delaying payments to franchises,” said Latif while talking during a Youtube video. “The board had earned a lot during the last season but they are yet to reveal the financial statements. The franchises have been asking for the accounts for the past month or so, but the PCB has not done anything in this regard.”

The 50-year-old also spoke about the franchises’ request to remove the obligation of depositing bank guarantee.

“If PCB does not share revenue from previous season, how will the franchises deposit bank guarantee for next edition?” he said. “PCB is benefiting from delayed payments by earning interest on it, which is a wrong thing to do.”

READ MORE: HBL PSL franchises ‘refuse’ to deposit bank guarantee

Earlier, the franchises had refused to deposit bank guarantee, for the fifth edition of the country’s premier T20 league.

The franchise owners have reservations on several issues but one of the major areas of concern is regarding the financial accounts of previous edition. Nearly six months have passed but the PCB is yet to finalise the HBL PSL financial statements, which is why the franchises have decided against depositing bank guarantee.   

The franchises are also of the opinion the PCB should no longer obtain bank guarantee because the league is now stable enough to operate without it.

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