 franchises are eagerly awaiting their share of revenue from the Pakistan Cricket Board (PCB)){kind=link}
The Pakistan Super League (PSL) franchises are eagerly awaiting their share of revenue from the Pakistan Cricket Board (PCB). This delay has led them to formally remind the board through a joint letter, highlighting the urgency of the matter.
Revenue Split and Delays
PSL franchises were supposed to receive 45% of the revenue from the central income pool by May 5th. This amount covers player fees and operational expenses. Typically, an additional 10% is withheld for audit adjustments, with the remaining 45% expected by July 5th. However, as of now, none of the franchises have received their payments.
Pending Dues and Clarifications
When questioned about the delay, PCB officials explained that pending dues from various stakeholders are causing the holdup. Once these outstanding payments are settled, franchise accounts can be finalized. The PCB is owed a substantial amount of over three billion rupees from various stakeholders.
The largest sum, approximately one billion two hundred fifty-six million rupees (Rs. 1,256,622,048), is owed by a major entity. Another company needs to settle a payment of 741 million rupees.
Several stakeholders are expected to pay varying amounts, including 492 million rupees, 184 million rupees, 147 million rupees, 41 million rupees, and 293 million rupees. Once these payments are made, each franchise’s share will be over 525 million rupees.
Franchises’ Joint Letter
In their joint letter, the franchises requested early payment of dues, exemption from late payment penalties, information on the tenth edition’s schedule, updates on matches in the UK, and a list of foreign cricketers available after discussions with other boards.
The franchises expect to receive a response only after the Muharram holidays. However, it currently appears that the PSL is not a top priority for PCB officials due to the ongoing changes in the cricket structure. Notably, PSL 9 concluded on 18 March 2024 with Islamabad United clinching their third title.
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