A new financial model of the Pakistan Super League (PSL) has been presented to franchise owners by Pakistan Cricket Board (PCB), offering them over 90 per cent of profit share from the future editions.

The model was offered by the newly appointed PCB chairman, Ramiz Raja during the PSL Governing Council meeting. Three of the major changes made in the new model includes covid-19 relief for HBL PSL 5 and 6, increased share from the Central Pool of Revenue (CPR) for HBL PSL 7–20 and fixation of the dollar rate.

One of the franchise owners after attending the meeting revealed, “Now the PSL franchises would be entitled to over 90 percent of share in profit. Previously they were having around eighty per cent of share which has now been increased to over 90 percent. That was what we learnt from the meeting”.

The owner, however, said that they have not received any of the details in writing which is expected to be shared with us soon. “Once we get the entire new PSL Financial Package in writing or through email, we will be in a better position to discuss it,” he added.

“Once we get it in black and white shape, we will start the evaluation process. What we have got verbally so far is one that could be given a serious thought before getting back to the PCB in around ten days’ time,” the owner further said.

Following the decision, Raja said, “Taking into the account the legal and contractual framework, the PCB has offered a new financial model to the franchises with the sole purpose of supporting and resolving their concerns.”

“The PCB expects the franchisees to accept this offer so that we can switch our focus on strengthening the HBL PSL brand”, the chairman added.

Ramiz had earlier held a meeting with the PSL Governing Council where he assured the team owners that he “remained committed to upscaling, enhancing, and strengthening the HBL PSL brand”, a statement from the PCB said.

From : pk.mashable.com

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