PSL franchises given three weeks deadline to submit annual fee

Web Desk
PSL franchises given three weeks deadline to submit annual fee / Photo: PCB

Pakistan Cricket Board (PCB) has given three weeks deadline to all six franchises of Pakistan Super League (PSL) to submit the long-awaited annual fee, The News reported today.

According to the paper, Multan Sultans owes the biggest amount to the cricketing body with $6.5 million due, followed by Karachi Kings’ $2.6 million and Lahore Qalandars’ $2.5 million. Islamabad United and Peshawar Zalmi have to pay $1.5 million each while Quetta Gladiators owe PCB $1.1 million.

“The PCB has directed all the PSL franchises to deposit the annual fee within next three weeks. The PCB also hopes the franchises would submit the fee within given period for smooth conduct of the sixth edition,” a source told The News.

The cricketing body and PSL franchises have been at loggerheads over the league’s financial model for months now. The annual fee was supposed to be submitted with the PCB long back.

However, the franchises have missed multiple deadlines and refused to pay the dues until a change in the financial model, suggesting a higher share in revenues for them, is confirmed.

Read: PCB 'disappointed, surprised' at being dragged in court over PSL financial model

“We are already suffering from losses and as such we are in no position to bear extra loss. We have taken up the matter with the PCB for the required changes in the existing model but nothing has been done so far. Unless and until we have a new system in place I would not submit the fee,” one of the franchise owners was quoted as saying.

It is unclear to what would happen if the franchises fail to meet the deadline again; however, the concerned franchise owner said he is ready to face the consequences.

“I am even ready for the worst consequences. Once the PCB changes the financial model I would submit the fee otherwise I would not accept any deadline,” he added.

Earlier in December last year, PCB Chief Executive Wasim Khan brushed aside the concerns regarding the financial dispute between the two parties affecting the PSL’s future.

He had said that season six of the league will go ahead as planned and the matter between PCB and franchises will be eventually resolved. 

Read: PSL franchises miss another deadline to deposit money owed for 2021 tournament

PSL franchises given three weeks deadline to submit annual fee