PSL to make PCB financially independent: Najam Sethi

Event's Governing Council chairman says money earned through the event will be used to develop cricket in Pakistan

ISLAMABAD: The Pakistan Super League (PSL) Governing Council chairman Najam Sethi has expressed optimism that the lucrative league would give a great boost to the country's cricket by providing players an opportunity to play with top international cricketers.

Sethi said that each of the five teams participating in the event would have to include four foreign and two local budding players in the squad.

"Even the new cricketers will get at least $25,000 each," he said adding that the step would boost their confidence and encourage other young players to play the game.

He said the PSL would also help make Pakistan Cricket Board (PCB) financially independent.

The money earned through the PSL, he said would be utilized to develop cricket in the country.

"The money earned through the PSL would be in a central pool, with the franchises getting a 75% share," said Sethi, in his TV program on a private channel.

"In addition, every franchise will also get profit through sponsorship rights including the logos on shirts."

Sethi said every PSL franchise would be required to pay players' fee in advance to the PCB, which he added would be disbursed to the cricketers by the board itself.

He informed that 20 eligible parties had expressed interest to buy the five franchises adding that the number would be enhanced to eight during the next four years.

He said that every franchise would hire former Pakistani players for getting advice on selecting the squad.

To a question, he said that the PSL logo ceremony was meant for sponsors and interested franchises and not for media and cricketers.

He said the PSL would be the second biggest T20 competition after the Indian Premier League (IPL) stating that the agreement had been made with the top international players.