08.10.2021,23:10 6 0

PSL Mulls Move from Drafts to Auctions

PSL Mulls Move from Drafts to Auctions

To strengthen the PSL and grow it, PCB chairman Ramiz Raja is mulling the idea of moving from the draft currently employed by the league to auctions. Auctions would allow franchises to offer longer-term contracts and higher remunerations to players. The franchises who met with Ramiz are said to have approved of the ideas. However, these changes cannot be made immediately considering the long-running dispute between the franchises and the board regarding the financial model of the league.

Franchises Seek New Revenue Sharing Model

At a meeting with the franchises, everyone agreed that the PCB chairman’s ideas were ambitious. However, they also recognised that the biggest hurdle to implementing the changes was the financial and revenue sharing model currently employed by the league. After the completion of six seasons, four of the PSL’s six franchises are reportedly yet to break even on their initial investments.

How the PCB Earns from the PSL

Every year, the PCB gives each franchise an equal share of the central revenue pool derived from the commercial deals and the broadcast rights of the league. The franchises pay annual fees ranging between PKR 18.6 crore (USD 1.1 million) and PKR 107 crore (USD 6.35 million). Every season, the PCB earns PKR 264 crore (USD 15.65 million) from the franchise fees and supplements the earnings with a 15% share of the broadcasting rights.

By contrast, the eight original franchises of the Indian Premier League have paid fees in advance for a 10-year tenure and are not required to make any additional annual fee payment. The Caribbean Premier League allows franchises to own rights for a 25-year tenure. The production costs of the PSL are also borne every season by the franchises. The PCB only pays the costs relating to the ground and remunerations of match officials.

PCB Dragged to Court by Franchises

Last year, the disgruntled franchises sued the PCB over the issue. The PCB and the franchises were asked by the Lahore court to reach an out-of-court settlement of the disputes. After holding several meetings with the franchises, Ehsan Mani who preceded Ramiz Raja as PCB chairman appointed Tassaduq Hussain Jillani, retired chief justice of Pakistan, as a one-match arbitration panel. Jillani has since filed a report of his recommendations whose content has not been shared with the franchises by the PCB.

PCB fears Legal Implications of Changes to Revenue Sharing Model

The PCB is reticent about revealing the content of the report owing to fears relating to legal implications that may arise from changing the model of the PSL and the agreements on which the league was based. The PCB fears that changing the financial model of the PSL could draw unwanted attention from the Auditor General of Pakistan, the Public Account Committee (PAC), and the National Accountability Bureau (NAB), agencies that have previously been involved in the matters.

Launch of Kashmir Premier League Has Complicated Matters

The newly launched Kashmir Premier League which involves players drawn from Pakistan’s domestic cricket circuit has added to the disputes between the PCB and the PSL franchises. The franchises object to the KPL which according to them is usurping the commercial space occupied by the PSL, the showpiece event of the PCB.

Liked? Share:
0   voted
Similar news
PCB Offers PSL Franchises Increased Share of Revenue Pool
PCB Offers PSL Franchises Increased Share of Revenue Pool
Read more

Beginning with the 2022 season, PSL franchises will get a bigger share from the PCB’s central revenue pool. That is one of a few concessions made by the PCB in a bid to resolve a long-festering stalemate regarding the PSL’s financial model. Another point of dispute that the PCB has agreed to fix is the […]

PSL 2022 Planned in January-February to Avoid Clash with IPL
PSL 2022 Planned in January-February to Avoid Clash with IPL
Read more

The PCB will conduct the PSL 2022 competition during a window in January-February 2022. The board consulted the six franchises before confirming the news. However, the schedule will clash with that of Australia’s Big Bash League. Karachi and Lahore to Host 17 Matches Each The 7th edition of the PSL will feature 17 matches each […]

How Rizwan Became Pakistan’s Best T20I Batsman
How Rizwan Became Pakistan’s Best T20I Batsman
Read more

Pakistan’s wicket-keeper-batsman Mohammed Rizwan must consider 2021 as the year in which he finally arrived in international cricket. Rizwan was the top scorer in the three-match T20 series versus England in which he made 176 runs from three matches at an average of 88.00 and a strike rate of 138.58. Brilliant PSL Season 2021 with […]

Multan Sultans Beat Peshawar Zalmi for Maiden PSL Title
Multan Sultans Beat Peshawar Zalmi for Maiden PSL Title
Read more

Multan Sultans won their maiden PSL title after beating Peshawar Zalmi in the final on 24 June 2021 at Abu Dhabi’s Sheikh Zayed Stadium. Peshawar entered the finals for the third time after reaching the title clash in 2018 and 2019. But they were unsuccessful in their bid to become PSL champions, for the third […]

Afridi, Sarfaraz in Heated Exchange during Qalandars vs Gladiators Game
Afridi, Sarfaraz in Heated Exchange during Qalandars vs Gladiators Game
Read more

On Tuesday, 14 June, left-arm fast bowler Shaheen Shah Afridi had a run-in with former Pakistan skipper Sarfaraz Ahmed during the PSL match in Abu Dhabi between Quetta Gladiators and Lahore Qalandars. Lahore skipper Sohail Akhtar and senior player M Hafeez joined the umpires to separate the two players after an incident during the 19th […]

Khawaja Slams Ton in Record PSL Total by Islamabad United
Khawaja Slams Ton in Record PSL Total by Islamabad United
Read more

On 17 June, Islamabad United led by stand-in skipper Usman Khawaja faced Peshawar Zalmi in a league match of the PSL 2021. Batting first, United reached 247 for 2, the highest ever total in the PSL. Khawaja led the way with 105 from 56 balls. In the process, Islamabad broke their own previous record of […]