PSL franchises seek bigger share in revenues

Franchises in the Pakistan Super League have asked for a bigger share in revenues generated by the Pakistan Cricket Board from sale of title, media and other rights.

Nadeem Omar who owns the Quetta Gladiators franchise told the media in Karachi on Thursday after a meeting with PCB chairman, Ehsan Mani, that the board needed to help franchises recover their losses after the first three seasons of the league.

"We have sent a letter to the PCB suggesting that they increase the share of the franchises in the revenues generated by sale of media, title and other rights and decrease their percentage of share," Omar said.

He pointed out that franchises were an integral part of the PSL and the PCB can help them recover from financial burdens.

"Let us see what the PCB does but we are expecting them to generate good revenues from the fresh sale of media, title and other rights now before the season four," he said.

The PCB has already sold the title rights again to Habib bank for 1.5 billion an increase from the one billion deal signed at the launch of the PSL in 2016.

The PCB is also in the process of renegotiating the sale of their sixth franchise after they terminated their agreement with Multan Sultans last week over payment issues.

According to Ehsan Mani three of four parties have already shown interest in buying the sixth franchise afresh and on Wednesday Abdul Karim Dedi a top Memon businessman met with Mani and offered an initial bid of USD 3 million dollars.

Mani told the media in Karachi that until the sixth franchise was sold again the PCB would continue to take full responsibility for all players and coach contracts.

"Till a fresh bid is accepted the PCB will be responsible for the sixth franchise until it is renamed by a new owner," Mani said.

He also made it clear that the PSL 4 would go ahead with six franchises even if the new bidding process for the sixth franchise is not completed before the start of the fourth edition of the league.