President Ramiz Raja, Pakistan Cricket Board (PCB), wants to attempt the idea of implementing the Pakistan Super League (PSL) auction rather than a player draught currently used by the League.
Ramiz wants teams to get into long-term agreements with higher salary players.
The suggestion was published this weekend after the Chairman’s meeting with PSL franchisees.
However, it said that the “long-standing deadlock between the board and franchises over the financial model of the League” was a hurdle to these improvements.
The ideas of Ramiz are allegedly termed “ambitious.”
Franchises claim that PSL’s present income sharing scheme “prevents them and the League from prospering,” according to the publication.
Four out of six franchises still have to break even on their investment with the league being six seasons old.
Each franchise is equivalent each season to a central income pool.
The annual franchise charges vary from 1,1 to 6,35 million dollars, with the board generating a maximum of 15,65 million dollars each year, while the broadcasting revenue also accounts for 15 percent.
The franchises paid fees in the Indian Premier League are for a term of 10 years over which they do not have to pay an annual price. Franchises are entitled to 25 years in the Caribbean Premier League (CPL).
PSL has a 10-year deal for the franchises. They also have to pay the production costs of broadcasting each year. The PCB covers the terrain and the expense.
However, the issue reached such a degree last year that the franchisees brought the PCB to justice. It wasn’t long before the PCB got involved in legal problems with the broadcasting rights holder of the League.
PCB are brought to justice by the franchises
The Lahore High Court has urged the PCB to discuss matters outside of court with franchisees.
After a series of meetings with franchisees, President Ehsan Mani of the PCB, created a unified impartial Panel to give a solution for Tassaduq Hussain Jillani, a former Chief Justice of Pakistan.
The report of the judge was presented earlier this month, but the PCB has not provided it to the franchises, because it is, according to the PCB, a confidential document. According to sources, the PCB’s misgivings thus far regarding the study stem from concerns about the legal consequences of modifying the PSL’s idea and the League’s agreements.
PCB officials stress that changes in the PSL model could attract public accounting and regulatory authorities like as the National Reporting Bureau (NAB). The PAC, and the Pakistan Auditor General. The officials of the PCB are concerned about the change to the PSL format. These groups were involved in these problems in the past.In order to authorise payments of $400 000 to every franchise, former PCB Chairperson Nadjam Sethi was asked in 2016 by the PAC. These payments were provided in the first season of PSL to compensate for the franchises’ losses.