PCB denies higher share to PSL franchises | Pakistan Today

PCB denies higher share to PSL franchises

LAHORE: The Pakistan Cricket Board (PCB) has reportedly declined demands by Pakistan Super League (PSL) franchises to increase their share in income.

As media reports emerged, the cricket governing body and PSL teams’ owners conducted a meeting in order to resolve the issue.

The meeting, presided by PCB chief Ehsan Mani, underwent a stressed environment as a few team owners “threatened to part ways with the league if their demands are not met.”

Just ahead of the fourth edition of the celebrated league, the PCB signed a $14.30 million title sponsorship deal with the Habib Bank Limited (HBL). As per the agreement reached between the board and franchises, both the stakeholders will split the profit.

During the meeting, the owners stressed on their earlier demand of increasing their share in the revenues earned.

The meeting heated up when one of the team owners boycotted the meeting. However, Mani and other PSL officials intervened and calmed the situation down.

PCB also asked the franchises to present their audit books to figure out the exact losses as it believed that “they even had a profit from the first edition.”

Team owners, however, refused to disclose their finances and asked the PCB chief to avoid “bringing matters to the public.”

PCB is also expected to open the tender for PSL broadcasting rights and according to an agreement; the franchises will earn 80% of the revenues while remaining will go to the cricket board.

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