Pakistan Cricket Board (PCB) has confirmed that no new teams will be added to Pakistan Super League (PSL) in the foreseeable future. PCB has assured the existing PSL franchises that no new teams will be added to the league to ensure that they receive the maximum amount of share from the revenue stream.
Existing PSL franchises showed concerns about PCB’s previous financial model for PSL as both parties reached a standstill in negotiations. However, PCB recently presented a new financial model to the PSL franchises, which included several benefits for them starting from the next edition.
The two parties have resolved their issues, and the PSL franchise owners agreed to the new financial model offered by the PCB.
According to the new model, PSL franchises will receive a 95 percent share of the total central revenue pool received from broadcasting rights, sponsorship rights, and gate receipts. The franchise fee payment has also been altered in order to accommodate the PSL franchises, and they have also been offered relief for COVID-19 for seasons 5 and 6 of the competition.
PCB has also ensured that no new franchise will be added to the six-team league. This will enable the current PSL franchise owners to increase their revenue as all the franchises will receive an equal share from the revenue pool.