A majority of the franchises featuring in the upcoming edition of the Habib Bank Limited (HBL) Pakistan Super League (PSL) season six have agreed to submit the fees after a discussion with the Pakistan Cricket Board (PCB) officials.
Some franchises will issue cheques for a later date. The three-week deadline for the notice of breach is about to end on Thursday (21 January). According to Cricket Pakistan the franchise owners have decided against taking the matter to court for a second time.
On the other hand, a third-party consultant company has been recruited in order to study the current financial model. The matter is expected to be resolved soon.
The current ceasefire between the franchises and the PCB brings an end to the standoff between the two sides over the payment of fees. The franchises have been upset with incurring consistent losses from the league. The PCB on its part had threatened severe action against the franchises in case the fee was not submitted by the given deadline.
A source claimed that the PCB had made significant promises to the franchise owners that led to the current ceasefire. The franchise owners are also confused about the workings of the league in case the officials of the PCB are changed in the future. Board officials have confirmed that all decisions would be taken with the permission of the governing board so that no issues are faced in the future in this regard.
John Stephenson
john@cricketinvestor.co.uk
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