close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Pakistan

Web Desk
September 25, 2020

LHC bars PCB from taking financial guarantees from PSL franchises

Pakistan

Web Desk
Fri, Sep 25, 2020
Franchises had approached the LHC against the PCB for its failure to address their reservations over the tournament’s financial model. Photo: File

The Pakistan Cricket Board (PCB)  was stopped by the Lahore High Court (LHC) on Friday from taking any financial guarantees from the Pakistan Super League (PSL) franchises for next year's season.

LHC’s Justice Sajid Mehmood Sethi issued the orders and asked the PCB to submit its reply in the case filed by the franchises by September 30.

On Thursday, the franchises had approached the LHC against the PCB for its failure to address their reservations over the tournament’s financial model.

In a petition filed through leading lawyers Ahmer Bilal Soofi and Salman Akram Raja, the franchises said they have been suffering major losses due to the financial model being used by the cricket board over the last five years.

They said they were hoping that the league would be profitable for them after the fifth edition took place in Pakistan instead of UAE but that was not the case.

“Over the past few months, the relationship between the PCB and the franchises had turned sour while the cancellation of governing council’s meeting, towards the end of July, took matters to the point of no return,” the petition stated.

It added that the franchises were also not happy with the fact that the PCB had asked them to submit financial guarantee by September 25 for the next season, even before the completion of the fifth season, rather than addressing their grievances.

“The franchises were disappointed to see the PCB’s approach, while dealing with them, despite helping the board turn the league into a big brand,” it further stated.