PCB asks franchises to pay up before the 3rd of December
Pakistan Cricket board in an email have asked PSL franchises to pay their dues by 3rd December. PCB’s chief financial officer Badar Manzoor Khan, has reminded the franchises that PCB is entitled to cash in their bank guarantees, if they fail to pay up within the deadline.
This move comes as a surprise to many as PCB has been negotiating with franchises regarding the PSL financial model. Franchises wanted to change in the currency they make the payments. There has been significant drop in the value of rupee, and franchises are unwilling to give the payment in dollar now.
PCB had formed a 3 member committee to find a resolution to the situation. The committee was mandated to find the solution to the aforementioned problem and negotiate with the government to get tax break. With Multan Sultan owners failing to cope with their financial responsibilities, PCB took swift action and terminated their contracts.
However, with unresolved issues this email comes as a shock to many. It remains to be seen how the franchises would react to it.
