Wednesday Oct 07, 2020
The Pakistan Super League (PSL) franchises along with Pakistan Cricket Board (PCB) on Wednesday had a meeting to discuss their reservations with the financial model.
According to a PCB press release, the "participants engaged in good faith discussions with a view to resolving outstanding matters, disputes and grievances".
Furthermore a new model was proposed and "both sides agreed to delve deeper with their respective financial and operational teams".
Earlier the franchises owners had expressed their grievances over the existing financial arrangement and model of the PSL and filed a joint petition in Lahore High Court against the PCB.
The franchise owners approached the court with the claim that the PSL has made the PCB richer while the franchises have run into losses every season, and asked in the petition for the court to direct the PCB to “formally redress the grievances of all franchises” and “revise the model of PSL in accordance with its statutory mandate and make it financially viable”.
READ: PCB 'disappointed, surprised' at being dragged in court over PSL financial model