Pakistan Cricket Board (PCB) terminated the franchise contract of Multan Sultans with Schon Group and the board will take all the responsibility of the team, players and coach contracts, while further details will be revealed later.
A joint statement from the board and the team owners said that the rights of the sixth franchise of the Pakistan Super League (PSL) have been reverted back to the board as the owners could not meet their financial obligations.
Schon Group acquired the rights for the sixth team of the PSL against $5.2 million per annum, which became the most expensive franchise of the league, surpassing Karachi Kings as the most pricey franchise of the league.
However, the fourth edition of the league will consist of six teams and the team will be referred to as “The Sixth Team” till a public tender process starts after the draft for the fourth edition.
“The team selection for the sixth team at the player draft scheduled to be held on 20th November 2018 will be done by the PCB itself,” the statement read. “PCB will thereafter enter into a public tender process – details will be made public soon – to grant repackaged rights of The Sixth Team. The rights holder would have the option of choosing the sixth franchise city and name,” it added.
The joint statement quoted Ashar Schon saying that it has been a privilege for him to own a team in the PSL.
“It has been a privilege being a PSL team owner over the past year. I am proud of the support Schon has always extended to Pakistan cricket and current affairs notwithstanding, will continue to passionately support it.”
PCB chairman Ehsan Mani coined the termination of the contract as ‘unfortunate’ but stated that contractual obligations have to be followed.
“While this is an unfortunate turn of events, we have to ensure strict adherence to contractual obligations for the well-being of PSL. We wish Schon Group well with their future endeavours,” Mani was quoted in the statement.
He further assured that the league will take place as per the plan and there will not be any change in the blockbuster event.
“I want to reassure our partners… that the Pakistan Super League will take place as planned,” he added.
The fourth edition of Pakistan Super League is likely to take place from February 14 to March 17, 2019.