Rs 850mn guaranteed to new PSL teams

KARACHI:

The offer of an Rs 850 million central pool income guarantee in the Pakistan Super League (PSL) has been made only to the two new teams.

The existing franchises do not have any such clause in their agreements.

According to details, the Pakistan Cricket Board (PCB) has assured the seventh and eighth teams that starting from PSL 11, they will receive a minimum guaranteed amount of Rs 850 million each for the next five editions.

This has been termed a “minimum central pool income guarantee.” If, in any edition, a team’s share from the central pool falls short of this guaranteed figure, the PCB will cover the shortfall. Alternatively, the new franchises may be compensated with a discount in their participation fee for the next tournament.

The five older franchises are not included in this offer. Officials from multiple existing teams confirmed that they had not been given any such guarantee.

One official said, “It would have been good to have such a guarantee, but it doesn’t make a big difference to us since each team’s central pool share generally exceeds Rs 850 million.” They added that the decision was a positive step to attract new franchise owners.

Sources revealed that the proposal came from the foreign company conducting the league’s valuation. The five existing franchises were not offered any major new contracts; they were simply asked to sign one addendum, while the rest of the contract remained the same as before. Under the current arrangement, franchises receive 95% of most commercial contract revenues.

The fees paid by franchises are not part of the central pool. After the 20th edition, the PCB will determine the percentage share for franchises.

It should also be noted that the Multan Sultans’ affairs will be managed by the PCB during PSL 11, after which the team will be re-auctioned.