Franchises seek court’s help for viable PSL financial model

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After a long-term dispute over Pakistan Super League (PSL)’s financial model, all six franchises have collectively approached Lahore High Court (LHC) against the Pakistan Cricket Board (PCB).

According to ESPNcricinfo, a lawsuit, demanding a viable PSL’s financial model, has been submitted in LHC by franchises. Owners of six teams think that PSL is benefitting more to the cricket board whereas they are running losses every season.

The petition urged the court to make sure that PCB addresses the grievances of all franchises and revises the financial model of PSL in accordance with its statutory mandate and make it equally profitable.

Earlier, PCB confirmed that they had canceled the contract of PSL’s international media-rights holder named ‘Techfront’ due to a series of breaches.

Read: Gaddafi Stadium will host PSL 5’s knock-out stage in November

Meanwhile, the cricket board is also facing a stay order in court by PSL’s local media-right holders – Blitz which claims that PCB cashed insurance guarantee (held as security for the deal) of PKR 1 billion.

It must be noted here that PCB has to stage the remaining PSL 5 matches in mid-November, as per their announcement earlier this month. The knock-out stage of PSL 5 will be played between November 14-17 in Lahore.

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