Pakistan Cricket Board (PCB) decided to offer financial assistance to the franchisees of the Pakistan Super League (PSL) from the upcoming season.
PSL has completed six seasons so far and Multan Sultans emerged as the champions in the last edition of the tournament in 2021.
PCB has offered a new financial model to PSL franchisees: Ramiz Raja
PCB’s newly appointed chairman Ramiz Raja said the board has offered a new financial model to the six franchisees with the intention to bolster the league.
“Taking into the account legal and contractual framework, the PCB has offered a new financial model to the franchisees with the sole purpose of supporting and resolving their concerns,” Ramiz Raja said in a statement, as reported by news agency ANI.
“The PCB expects the franchisees to accept this offer so that we can switch our focus on strengthening the PSL brand,” he added.
PSL was started with a five-team tournament and according to a report an overall profit of $2.6 million from the inaugural edition of the tournament.
“As part of its commitment and resolve to assist and support the franchises so that they can continue to play their crucial role in the growth of cricket in Pakistan, the PCB has offered the following to the six franchises,” PCB mentioned in its official statement.
According to a report by ESPNCricinfo, Ramiz Raja wants franchisees to be able to pick players for longer-term contracts on higher pay like in the IPL while the franchisees are supportive of the idea, during a meeting this weekend.
This means PSL could also see a grand auction just like IPL to attract popularity to the tournament across the globe.