The Pakistan Cricket Board is trying to pacify the six franchise owners of the Pakistan Super League who’ve taken the board to the Lahore High Court over the financial mannequin of the T20 occasion.
The owners of Lahore Qalandars, Quetta Gladiators, Multan Sultans, Karachi Kings, Peshawar Zalmi and Islamabad United have, in a joint petition filed within the courtroom, made it clear they’d misplaced billions of rupees for the reason that inception of the event within the absence of a viable financial mannequin.
According to the franchisees, the financial mannequin was tilted in favour of the PCB which had earned billions from the PSL within the final 5 years, even because the workforce owners suffered losses.
At a preliminary listening to held final week, the PCB’s authorized workforce took a robust stance on the petition filed by the owners, however sources, conscious of the developments, mentioned behind the scenes efforts are being made to settle the matter out of courtroom.
“The PCB realises the gravity of the situation as the PSL is one of its most successful brands and due to the existing economic conditions in Pakistan and globally, it would not be easy for sale of the franchises if the situation got out of control,” the supply mentioned.
The major objection of the franchisees is that the PCB, regardless of repeated assurances, had failed to modify the financial mannequin of the league.
The decide, who will hear the matter once more on Wednesday, had requested the PCB to submit an in depth reply to the petition filed by the franchise owners.
“Outside channels are being used to convince the franchise owners to withdraw their petition and assurances have also been given to them that the board is willing to sit down with them and address their grievances,” the supply added.