Pakistan Cricket Board (PCB) has offered an increased share of the central revenue pool and other incentives to the Pakistan Super League (PSL) franchises in the updated PSL financial model. The updated financial model has been introduced by the PCB to resolve the longstanding issue between PSL franchises and the cricket board regarding the previous financial model.
Earlier, PSL franchises had taken PCB to court over the financial model as they believed that PCB has been unjust for keeping a majority of the revenue while the franchises have suffered the burden of the finances of the league. According to details, the majority of the PSL franchises have yet to even break even their investment despite the success of the tournament.
The issue was also discussed during the meeting between PCB, led by newly elected chairman, Ramiz Raja, and PSL franchise owners over the weekend. While the PSL franchise owners expressed their excitement over the new direction of the league, they expressed their concerns regarding the financial model.
The two parties met again on Monday where the PCB presented an updated financial model and the PSL franchise owners deemed the model satisfactory and are expected to accept the offer.
According to the updated financial model, the PSL franchises will get more than 90 percent of the profit share for the future editions of the tournament. PCB has also offered financial relief for the past two editions of the tournament which were affected by the COVID-19 pandemic. More details regarding the financial model will be released by the PCB once the PSL franchises approve the updated model.