PSL franchises will get more than 95% of the central revenue pool
- PCB and six other Pakistan Super League (PSL) franchises have agreed on a new financial model for the league.
- Under the new financial model, PSL franchises will be entitled to 95% of the profit share of PSL’s central revenue pool 7.
- Franchisees are required to pay an additional 25% to retain the rights to the 11th edition of PSL.
ISLAMABAD: The Pakistan Cricket Board (PCB) and the six franchises of the Pakistan Super League (PSL) have agreed on a new financial model for the league.
Under the new financial model, PSL franchises will be entitled to 95% of the profit share of the central revenue pool of PSL7, while they will get a 98% share of the profits of PSL5 and PSL6 due to COVID- 19.
However, franchisees are required to pay an additional 25% to retain the rights to the 11th edition of the PSL. PSL franchises wanted the clause removed, but the PCB refused the request.
In accordance with the agreement between the PCB and the PSL, the dollar rate has been set at the current rate of 171 rupees.
In a statement, the PCB confirmed that all PSL franchises have accepted the board’s offer presented at the board meeting held last month.
PSL franchises accept PCB’s new financial model
The day before, the PCB had announced that the six PSL franchises had accepted the offer of a new financial model, which was presented to them at the Board of Governors meeting last month in Lahore.
Some of the main terms of the offer, which all six franchises had agreed to, include COVID-19 relief for PSL 5 and 6, an upward revision from the Central Pool of Revenue in favor of franchises for PSL 7 to PSL 20, and blocking of the dollar rate with prospective effect.
PCB Chairman Ramiz Raja welcomed the resolution and said long-standing issues between PCB and franchises are causing distractions and affecting the brand’s reputation.
“I am delighted that all issues have finally been resolved, which is a great step forward in building a stronger relationship with franchise owners as we look forward to working with them to bring PSL to success. higher and unprecedented heights, “he said.
The franchise owners, in a joint statement, said: “PSL is very important to us. Since 2016, we’ve all worked really hard to get him to where he is today. Acceptance of the PCB offer is an indication of our commitment and determination to make PSL a bigger and better league with top players participating, commercially supported by elite companies and watched live by top players. avid cricket fans in Pakistan as well. like globally.