Published:30 July 2021
The Pakistan Cricket Board is highly concerned about the Pakistan Super League's new revenue arrangement. Previously, the board of directors and the six PSL teams were looking for methods to get on the same page regarding a financial model that worked for both parties. The franchises took the case to court, saying that the current arrangement is costing them money while the Board reaps all of the benefits.
However, the two parties reached an out-of-court settlement before the Lahore High Court in subsequent proceedings in an attempt to discuss and deliberate the differences and other concerns surrounding the financial model. As a result, the PCB has signed a contract with EY Ford Rhodes, a business management consulting firm that will review the franchisees' financial records and produce reports. The findings of these investigations would subsequently be discussed with a retired Supreme Court judge who the board has approached.
The new paradigm would be applied once the franchises' opinions matched those of the judge. However, it is well understood that implementation will have its own set of obstacles, which all parties will be aware of. As reported by Cricket Pakistan, the judicial review becomes crucial to guarantee that everything with the National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) is in order.
Following the media revelations, some people have started putting their thinking caps on to look into legal solutions for the new financial paradigm. They stated that they would not participate in the bidding because of the PSL's current financial plan. As a result, any changes to the economic model today will not sit well with the stakeholders. When contacted about the situation, a representative from the Pakistan Cricket Board declined to comment.
The board faces a significant hurdle in getting this straight and running ahead of the start of the PSL. The PSL has already had to deal with rescheduling concerns because they would be hosting Australia within the tournament's customary window. It was expected to collide with the IPL, but it was later confirmed that the PSL would be held in Karachi and Lahore in January and February of next year, ahead of Australia's tour.