In the latest development regarding the Pakistan Super League (PSL), sources reveal that franchisees are still awaiting significant payments from the Pakistan Cricket Board (PCB). As of now, 10 percent of the total amount has been withheld for audit adjustments, while the remaining 45 percent is expected to be disbursed to franchisees by July 5. However, no payments have been made by the PCB so far.
Pending Payments and Audit Adjustments
The delay in payments is attributed to the pending settlements with various stakeholders. According to sources, the PCB is awaiting the collection of outstanding amounts from some stakeholders to finalize the calculations. Specifically, the board is yet to receive a substantial sum of Rs. 2.566 billion from a major stakeholder. Additionally, the board owes Rs. 74.16 million to another institution and must also pay a significant amount in another pending case.
The details of the amounts owed to different stakeholders are as follows:
- Rs. 492.041 million
- Rs. 184.837 million
- Rs. 147.165 million
- Rs. 41.503 million
- Rs. 293.312 million
Franchisee Shares and Expectations
Once the PCB receives these amounts, each franchisee is expected to receive Rs. 525.916 million. The delay has caused frustration among the franchisees, who recently wrote a joint letter to the PCB requesting the prompt payment of dues. The letter also raised other issues, such as:
- Waiving late payment surcharges
- Announcing the dates for the tenth edition of the PSL
- Providing updates on matches to be held in the UK
- Listing the availability of foreign cricketers after discussions with other boards
PCB’s Response and Future Prospects
The PCB is expected to respond to these concerns after the Muharram holidays. However, there are concerns that the PSL might not be a top priority for the officials at the moment. The delay in payments and lack of communication have caused uncertainty among the franchisees, who are eager to resolve these issues promptly.
Financial Strain on Franchisees
The delay in payments has placed a financial strain on the franchisees, who rely on these funds for operational costs, player salaries, and other expenses. The uncertainty surrounding the disbursement of funds has led to concerns about the smooth functioning and future planning of the franchises.
The franchisees’ joint letter to the PCB underscores the urgency of the situation. They have highlighted the need for timely payments to ensure that the franchises can plan and execute their operations efficiently. The request for waiving late payment surcharges is particularly significant, as it reflects the financial burden that the franchises are currently facing.
Broader Implications for PSL
The current situation has broader implications for the PSL. The delays in payments and the associated uncertainties can affect the overall credibility of the league. Stakeholders, including players, sponsors, and fans, might lose confidence if such issues persist. Ensuring timely payments and resolving outstanding issues is crucial for maintaining the league’s reputation and stability.
The delay in payments to PSL franchisees by the PCB has created a challenging situation, with significant amounts still pending settlement. The franchisees are eagerly awaiting the resolution of these issues to ensure smooth operations and future planning. The PCB’s response after the Muharram holidays will be crucial in addressing these concerns and restoring confidence among all stakeholders involved in the PSL.
