It seems as if controversies and cricket in Pakistan goes hand in hand as every other day we get to hear one story or the other. In a latest development, it is being reported that the Pakistan Cricket
It seems as if controversies and cricket in Pakistan goes hand in hand as every other day we get to hear one story or the other. In a latest development, it is being reported that the Pakistan Cricket Board is stuck in a major dilemma related to contract agreements and billions of pending revenue shares across different levels.
Highlights
- The Pakistani board has also warned those parties about contract cancellations if things are not sorted out within the given time frame
The issue also involves a few unnamed Pakistan Super League franchises, who are reportedly pushing the PCB to give them their revenue shares that are allegedly pending for decades. This has casted another dark shadow in the country’s cricketing eco system, which is known for being surrounded with controversies every now and then.
Less than a week ago, the PSL concluded with Peshawar Zalmi beating the Hyderabad Kingsmen in the finale to lift coveted title for the 2nd time in their history. But now, several franchises are asking the country’s apex board to clear their remaining dues with reports suggesting that the money is stuck at multiple levels.
The on-going rift is a lot more confusing than it actually seems. The same report is claiming that the PCB has notified several entities to pay their remaining sums or face legal trouble. The Pakistani board has also warned those parties about contract cancellations if things are not sorted out within the given time frame.
Moreover, upon receiving a similar notification, PSL franchises cleared their respective dues but they are now pressing on the board to provide them their shares which are stuck since 2010. The franchise owners are reportedly unhappy with the board’s behavior over delayed payments. A reliable source from the PCB confirmed this development while speaking to PTI recently.
“Initially, some defaulting franchises of the Pakistan Super League were also sent notices to clear their outstanding annual fees or face action. These franchises have now cleared their dues but also asked the board to clear their share from the central pool for the franchises pending since 2010.” – the PCB source told PTI.
PCB yet to receive payments from their partners
The same source has also revealed the real reason why PCB are delaying the payments to PSL franchise owners. It is being said that the board is awaiting for payments from their own business partners and stake holders, and until they receive the money from those entities, the board will not be able to clear the due shares to the concerned franchises.
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An unnamed franchise owner has even revealed that they are yet to receive a sum of PKR 96 crores (INR 32.74cr) from the central revenue pool of PSL’s 10th edition. To make matters worse, the source claimed that PCB still owe a sum in the region of 45 crores to certain franchises from last season’s central pool.
But the biggest reason why PCB are stuck in this dilemma is because they haven’t received the assured sum of 4.5 billions PKR from media and commercial rights of the PSL and Pakistan’s international matches.
“Because of this, the board hasn’t been able to keep its financial records up to date and audit its accounts.” – the source concluded.
With the international season set to continue shortly, it will be interesting to see how PCB quashes these disagreements and come out of this financial constraint.