Franchises move court against PCB over PSL financial model

The Pakistan Super League (PSL) franchises have approached the Lahore High Court against the Pakistan Cricket Board (PCB) for its failure to address their reservations over the tournament’s financial model.

In the petition filed through leading lawyers Ahmer Bilal Soofi and Salman Akram Raja, the franchises say they have been suffering major losses due to the financial model being used by PCB over the last five years. They say they were hoping that the league would be profitable for them, after the fifth edition took place in Pakistan, with the playoffs scheduled to be played in November, 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 adds.

The petition says 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 fifth edition has been completed, rather than addressing their grievances.

It adds that franchises were disappointed to see the PCB’s approach, while dealing with them, despite helping the board turn the league into a big brand. Justice Sajid Mehmood Sethi will take up the petition today (Friday).