Lahore: Pakistan Super League (PSL) franchises have accepted Pakistan Cricket Board (PCB)’s new financial model which was presented to them during last month’s Governing Council meeting on October 27.
According to details, some of the salient terms of the offer, which the six franchises have accepted, include Covid-19 relief for PSL 5 and 6, upward revision of Central Pool of Revenue in favour of the franchises for PSL 7–20, locking of Dollar rate with prospective effect
“The longstanding matters between the PCB and the franchises were causing distraction and affecting the reputation of the brand,” PCB Chairman Ramiz Raja said.
“I am delighted that all matters have finally been resolved, which is a big step forward in building stronger relationship with the franchise owners as we look forward to working with them to take the HBL PSL to greater and unprecedented heights,” he added.
The franchise owners, in a joint statement, opined that PSL is very close to their hearts as they have worked hard to bring this to where it is today.
“The acceptance of the PCB offer is an indication of our commitment and resolve to making the PSL a bigger and better league that is participated by the best players, commercially supported by the elite companies and watched live by the passionate cricket fans in Pakistan as well as globally.”