PCB attempting to persuade PSL possessors to withdraw petition over league’s monetary model: Report

- Advertisement -

The Pakistan Cricket Board is attempting to pacify the six franchise possessors of the Pakistan Super League who’ve taken the board to the Lahore High Court over the monetary model of the T20 occasion.

The possessors of Lahore Qalandars, Quetta Gladiators, Multan Sultans, Karachi Kings, Peshawar Zalmi and Islamabad United have, in a joint petition filed within the courtroom, made it clear that they had misplaced billions of rupees for the reason that inception of the match within the absence of a viable monetary model.

- Advertisement -

According to the franchisees, the monetary model was tilted in favour of the PCB which had earned billions from the PSL within the last 5 years, even because the group possessors suffered losses.

At a preliminary listening to held last week, the PCB’s authorized group took a robust stance on the petition filed by the possessors, however sources, conscious of the developments, mentioned behind the scenes efforts are being made to settle the matter out of courtroom.

“The PCB realises the gravity of the situation as the PSL is one of its most successful brands and due to the existing economic conditions in Pakistan and globally, it would not be easy for sale of the franchises if the situation got out of control,” the supply mentioned.

The primary objection of the franchisees is that the PCB, regardless of repeated assurances, had failed to change the monetary model of the league.

The decide, who will hear the matter once more on Wednesday, had requested the PCB to submit an in depth reply to the petition filed by the franchise possessors.

“Outside channels are being used to convince the franchise owners to withdraw their petition and assurances have also been given to them that the board is willing to sit down with them and address their grievances,” the supply added.

[Attribution HT]

- Advertisement -