The representatives of the franchises have issued joint-statement after filing law suit against the PCB, saying that they have suffered heavy losses while the board has made huge profit, and therefore they have challenged the financial model of the tournament.
LAHORE: (UrduPoint/Pakistan Point News-Sept 28th, 2020) Pakistan Super League (PSL) franchises have issued a joint-statement after filing a lawsuit against Pakistan Cricket Board (PCB) in the Lahore High Court, the latest report say.
The Franchises have questioned the PCB’s financial model for the tournament.
In their joint-statement, the representatives of franchises say that PCB have not taken their concerns serious in a recent discussion.
“We have serious reservations about the PCB’s financial model for PSL,” says the representatives, adding that they worked on this tournament with a vision and goal of the promotion and development of the sport of cricket. They say that they have also tried to build good image of the country but the business model for the tournament introduced by PCB is not workable.
“PCB has demonstrated an unwillingness to discuss, deliberate or revise the arrangement in a serious manner forcing the hand of the Franchisees time and again,” they further say.
PSL, they point out, has made huge profit while they have suffered heavy loss.
“Since the start of the league, the Franchisees have collectively suffered losses in billions of rupees while the PCB has made billions…In light of the losses suffered by us over the past five seasons and PCB’s constant unwillingness to consider our grievances seriously, all six Franchisees have been constrained to approach the Honorable Lahore High Court against PCB…,” reads the joint statement.
Earlier, they had moved a petition before the Lahore High Court challenging the financial model of Pakistan Cricket Board (PCB) in Pakistan Super League’s fifth edition. They asked the court to order the board to change the financial model of the tournament.
