Credit goes to PCB Chairman Ramiz Raja who played key role for the profit of franchise owners who had complained about continuous losses.
LAHORE: (UrduPoint/Pakistan Point News-January 10th, 2022) The franchises will earn maximum profit from the upcoming Pakistan Super League (PSL) Seventh season as Pakistan cricket Board (PCB) has decided to give 95 per cent of the revenue to them under the new financial model.
The reports have unveiled that sponsorship, broadcasting rights and commercial agreements are the main reasons behind it.
Ramiz Raja, the incumbent Chairman of the board, has played key role after the owners of the franchises complained about continuous losses.
The Franchises owners had demanded to change the model and a case was also moved to the court when Ehsan Mani was the chairman of the board but finally the stakeholders returned to talk.
There were various models under considerations but there was a change in the PCB regime and Ramiz Raja tried to dig out the solution positively.
Later, both sides developed consensus on a new model where franchises would get 95 per cent of the revenue while PCB would receive the remaining.
The reports suggest that the franchises will get benefit as they can cover the previous losses. A television rights’ deal was done for Rs4,350,786,786 while they asked title sponsorship rights for around Rs3.5Billion. The live-streaming rights saw an increase of 175 per cent.
It may be mentioned here that there has been a massive increase in PSL's brand value. The estimation can be evaluated that at the start of the tournament that one minute cost around PKR75,000 but now it is selling around PKR1.3million.
