PCB, PSL franchises closer to sign new financial deal

ISLAMABAD: Pakistan Cricket Board (PCB) and the Pakistan Super League (PSL) franchises are inching closer to an agreement on a new financial package that is considered as the win-win situation for both parties.

A well-placed source in the PCB told ‘The News’ that following reluctance shown by some of the PSL franchise to submit annual fee, both parties had in detailed meeting on Monday and have almost agreed to a new financial package.

All PSL franchise owners barring Ali Naqvi (Islamabad United) and Nadeem Umar (Quetta Gladiators) participated in a meeting with PCB Chairman Ehsan Mani.“We believe that a new financial package offered by the PCB is a good one and is aimed at settling the dispute. We have agreed on this package which will be a sort of pact spreading over the next 50 years. In a broader sense, I think it is a win-win situation for both as the franchises will have a less share of the profit, with the PCB promising to wave off the annual fee,” one of the franchise owners told ‘The News’ on the condition of anonymity.

He said that though the deal has yet to be finalised, the financial package that was offered by the PCB in a meeting was a same one. “Though you never know what is in store next, we have agreed to a new package offered by the PCB during the meeting. Hopefully the official announcement would come in a few days’ time.”