3-week deadline set for PSL franchises to submit annual fee

ISLAMABAD: The Pakistan Cricket Board (PCB) has given three weeks’ time to all the six franchises of the Pakistan Super League (PSL) to submit the annual fee, hoping that long-awaited dues will be cleared before start of the sixth edition of the league.

‘The News’ has learnt from well-placed sources that the annual fee that was supposed to be submitted with the PCB long back has yet to be paid by the franchises.

“The PCB has directed all the PSL franchises to deposit the annual fee within next three weeks. The PCB also hopes the franchises would submit the fee within given period for smooth conduct of the sixth edition.”

According to details available with ‘The News’, Multan Sultans owe the biggest amount $6.5 million followed by Karachi Kings $2.6 million, Lahore Qalandars $2.5 million. Islamabad United and Peshawar Zalmi have to pay $1.5 million each with Quetta Gladiators $1.1 million.

The source within the PCB, however, was tight-lipped as to what would happen in case the franchises fail to meet the deadline.

Independent sources however told that three of the franchises were reluctant to submit fee on the pretext that PSL’s financial model needs an overhaul.

“Unless and until the PSL financial model gets a new shape, I am not ready to pay the annual fee. We are already suffering from losses and as such we are in no position to bear extra loss. We have taken up the matter with the PCB for the required changes in the existing model but nothing has been done so far. Unless and until we have a new system in place I would not submit the fee,” one of the franchise owners said.

When questioned whether he was ready for the consequences after failing to submit the fee, he said he was ready to face the music.

“I am even ready for the worst consequences. Once the PCB changes the financial model I would submit the fee otherwise I would not accept any deadline.”

The PCB has the powers to scratch the franchise from the system and include a new aspirant but that would be the worst scenario.

“The franchises with less amount might go ahead to meet the deadline,” the source added.

In worst case scenario, the ultimate sufferer would be the league.

“Any delay in hosting the sixth edition of the league cannot be afforded so there is a need to look for a way out at the earliest,” a franchise official said.