The former chairman of the Pakistan Cricket Board (PCB), Najam Sethi, has said that the appreciation of the dollar has increased the financial burden on PSL franchises.
While speaking to a local sports channel in an exclusive interview, Sethi said that the franchise owners read their contracts and were aware of the regulations involved.
All owners are businessmen. They read all contracts before signing on. They asked us what they would need to invest in and what would the profits be. We did not have any issues with franchisees during our tenure. Now I think the issue is that the dollar is stronger, while the rupee is lower. This has put a big burden on the franchises.
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He noted that some deficiencies from the board have also created problems, which could have been avoided with better planning.
I think the franchises should not face any losses. I think in one or two years all the problems will be solved when crowds fill the stadiums.
The 72-year-old maintained that they faced several difficulties while getting the PSL started.
The PSL has grown quite a lot. When we started, we faced many problems. We were told that this has been tried several times, this cannot be done. Don’t try it. I was also told that there would be great losses. We were told that hosting it in Dubai won’t be beneficial. The PCB told me that we cannot afford such a big endeavor.
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However, he appreciated those board officials who supported the idea and encouraged him to go for it. Najam Sethi recalled how the league faced problems in Dubai.
We were given a slot, and when we went there, we were told that a slot isn’t available. It took a long time to settle all these matters. It seemed like nobody wanted this to happen.
Commenting on the PSL 6 official anthem, Sethi said that he would have never allowed the current anthem because it does not cater to all parts of society.
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