A cheque signed by a Pakistan Super League (PSL) franchise to Pakistan Cricket Board (PCB) has been rejected due to insufficient funds.
According to a local media outlet, during the Governing Council meeting, a PCB official disclosed this information.
PCB did not disclose the name of the franchise. However, has informed the media that an official warning has been sent to the management of the franchise claiming that ‘it reserves the right to take legal action against the offense.’
This behaviour is termed as ‘fraud’ by some experts and they claim that a legal penalty of three to ten years is often advised.
All the franchises requested the board to avoid any extreme measure as this would bring a bad name to the league. The board then assured the franchises of no legal action and maintain the anonymity regarding the club’s name.
It, however, urged all the PSL teams to clear their dues at the earliest.
So far, only one franchise has paid 50% of the players’ fee. Other franchises are still waiting for relief in taxes. But the government has not made any positive move in that regard.
As per the contract, all the franchises should have cleared dues soon after the PSL 2018 draft. But, according to the report, as many three franchises still owe a fraction of the annual fee to PCB.
Though one of them has submitted a bank guarantee, which the board is free to cash in at its will; the other two teams have deposited post-dated cheques.