Karachi: All six franchises of the Pakistan Super League (PSL) stand firm against the league’s existing financial model.
In a joint press release, franchises highlighted their concerns related to the current financial model which according to them has had benefitted the Pakistan Cricket Board (PCB) more.
“The Franchises have been dedicated to realizing the vision and goal of the promotion and development of the sport of cricket and at the same time building a positive image of Pakistan, unfortunately, we have serious reservations with the existing financial arrangement and model of PSL,” the joint statement read.
“PCB has demonstrated an unwillingness to discuss, deliberate, or revise the arrangement in a serious manner forcing the hand of the franchises time and again. Since the inception of the league, the Franchises have collectively suffered losses in billions of rupees while the PCB has made billions,” it added.
“In light of the losses suffered by us over the past five seasons and PCB’s constant unwillingness to consider our grievances seriously, all six Franchisees have been constrained to approach the Honorable Lahore High Court (LHC) against PCB. We would like to reiterate at this juncture our firm commitment to the sport and clarify that PSL Franchisees have always tried to solve their disputes with PCB amicably and without the interference of a third party,” the statement maintained.
“We are committed towards finding a workable solution and making PSL a success for everyone involved,” the statement concluded.
It must be noted here that all six franchises filed a lawsuit in LHC against PCB’s financial model for their only cricketing league. According to reports, after PCB’s unwillingness to revise the financial model, the franchises knocked on the court’s doors.