PCB, PSL franchises discuss financial matters

LAHORE: Pakistan Cricket Board (PCB) claimed on Wednesday that it had had a positive and constructive meeting with all the PSL franchise owners.

The participants engaged in good faith discussions with a view to resolving outstanding matters, the Board said in a press release.

“PCB presented to the team owners a draft proposal which has been put together at the behest of the franchises who requested that the PCB explore a more equitable model,” the Board said. “Both sides agreed to delve deeper into the proposed model with their respective financial and operational teams over the coming weeks and aim to resolve outstanding concerns and find a mutually beneficial position as soon as possible,” it added.

It is pertinent to mention here that the franchises had filed a case against the PCB in the Lahore High Court (LHC) after suffering major losses which they blamed on the existing financial model. An out-of-court settlement was reached between the parties to discuss the issues associated with the structure of the PSL.