PSL faces payment delay

The likelihood of an important meeting regarding the Pakistan Super League (PSL) on July 29 has increased. Franchises are currently awaiting their share from the central pool, while the board is expecting pending payments from a major stakeholder. 

Officials and franchise owners will discuss these matters in the meeting.

According to details, the 11th edition of the PSL concluded on May 3 with Peshawar Zalmi winning the title. 

A meeting expected on July 29 will address key issues related to the tournament. Since most franchise owners are currently abroad, the meeting will be held virtually. 

Their availability has already been confirmed, and July 30 has been kept as an alternate date.

Sources say that the accounts for the 11th edition have not yet been finalized, and franchises are still waiting for their central pool share. This matter will be discussed in the meeting. As per the agreement, 50% of the payment was supposed to be made within two months. 

However, since the Pakistan Cricket Board (PCB) covers expenses such as player payments, travel, and accommodation, these costs are deducted from the franchises’ share. Additionally, 10% of the share is withheld.

Sources further revealed that the delay is due to non-payment of dues by a major stakeholder. A stakeholder from the previous edition also failed to clear payments. 

However, officials remain hopeful that these issues will be resolved.

It is worth noting that with the addition of two new franchises, a total of eight teams participated in PSL 11. 

The PCB assured the seventh and eighth teams a minimum central pool income guarantee of Rs 850 million for the next five editions starting from PSL 11. 

If the share from any tournament falls below this guaranteed amount, the board will cover the shortfall. 

Alternatively, the new franchises may be given a discount equivalent to the shortfall in the next tournament’s fee. However, typically, the central pool share exceeds Rs 850 million.