Citing losses| PSL teams demand new financial model for league | Chronicleplanet.com

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Citing losses| PSL teams demand new financial model for league

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The six franchises within the Pakistan Super League (PSL) have urged the Pakistan Cricket Board to revise the financial and possession model of the match, arguing it’s inflicting losses to them however benefitting the PCB.
The franchises made the demand in a joint letter to the PCB. The relations between them strained after PCB excluded three franchises — Karachi, Lahore and Multan — from the negotiating desk for defaulting on funds.
According to unofficial figures for the fifth version of the PSL, which was postponed after league-stage matches because of the COVID-19 pandemic, franchises are anticipated to get round 20 to 22 crores every as their share from the earnings.
The franchises identified that they’re spending way over what they earn. They insisted that in future solely the PCB Chairman or the CEO Wasim Khan ought to deal with future conferences between the franchises and the board.
The franchises had earlier despatched a strongly worded e mail to the PCB after the final-minute cancelation of the governing council assembly which was scheduled for July 28.
The PCB had responded by saying that these franchises which have fulfilled their full financial obligations might be known as to debate the problems.
The six franchises additionally claimed of their mail that the response of the board to their issues has been unprofessional.
The PCB stays unsure whether or not to carry the remaining 4 matches of the PSL-5 or announce the winner on the premise of factors desk place after the completion of the league matches.
Apparently PCB stands to lose round three to 4 crores in holding the remaining 4 video games together with the ultimate.