The Pakistan Cricket Board (PCB) and Pakistan Super League (PSL) franchises are at a standstill ahead of next edition of the PSL.
The PCB is demanding bank guarantees from the PSL franchises whereas the franchise owners are still waiting for the board to finalize the PSL 4 financial report.
The board claims that despite several strong-worded letters, no franchise has completed the task of depositing their bank guarantee.
An email sent by the PCB read:
The failure of sending bank guarantees to the PCB by the franchises will have serious implications on the draft process which will not be hosted as per schedule. All franchises are instructed to send bank guarantees within a 10 day period. Failure to do so would result in action being taken.
On the other hand, the franchises should have received their shares for the latest PSL edition but that has not been the case.
The duty to address and resolve the issues between both parties was assigned to Director Commercial Babar Hamid. But he has failed to come up with a solution to satisfy both parties.
The dispute has been dragged and has hurt the relationship of franchise owners with the PCB and it is an alarming situation. According to experts, the matter needs to be delt quickly before irreparable damage is caused.
