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January 25, 2021

Franchises submit post-dated cheques

Sports

January 25, 2021

ISLAMABAD: All the six franchises of the Pakistan Super League (PSL) have submitted the annual fee in the form of post-dated cheques to the Pakistan Cricket Board as the fee was due since November 2020.

The cheques were issued to the PCB following an amicable settlement between the two sides with a promise to have a more logical and workable financial model between the two major stakeholders from the next year onward.

It has been learnt that the cheques submitted with the PCB on January 21 were postdated — only to be cashed after the PSL VI engagements.

A PCB official, when contacted, confirmed receiving the cheques before the end of three-week deadline set for the submission of annual fee.

“I think there is no harm in getting post-dated cheques as this has happened before. The important thing is that we have reached an amicable settlement with the franchises,” the official said.

When asked whether the PCB and the Franchises will sign a new financial deal in months to come, he said the negotiations were in progress in this regard.

“We would do what is best for the PCB as well as the franchises. We are looking to secure a long-term deal,” he added.