Serious concerns over financial matters in PSL: PCB sources

The Board of Governors of the Pakistan Cricket Board will be meeting on January 29th to discuss some of the sensitive issues pertaining to financial affairs of the impending Pakistan Super League.
Well-informed sources in the PCB told PTI today that many of the BOG members were concerned over the financial affairs of the PSL which will be held in Dubai and Sharjah from 4th to 24th February.
"They are serious concerns over what impact the PSL will have on Pakistan cricket board financially," one source confirmed.
He said although the estimated budget of the PSL had already been approved by the BOG at its last session but now they are fears that the league could become a financial burden on the PCB new concerns over its viability.

"The biggest concern is that until now all the estimated revenue targets forecast by the concerned people in the PSL secretariat have not been met and are falling short significantly. They are also questions being asked over the decision to buy air time on channels to show the PSL instead of selling the media rights of the event to broadcasters."
Sources say that the PCB will end up paying around $1.1 million annually for the next three years to the channels from whom the PSL secretariat has purchased airtime.

"The PSL secretariat also has to pay an estimated $1.2 million to Sunset and Vine productions annually to cover and produce the matches," one source said.

"In addition, the PSL secretariat has kept a budget of around $2.5 million for publicity, marketing and PR purposes for the PSL," he said.
The PCB also has to pay just above $2 million to the international sports management company which worked on the concept of the PSL and its plans for them.
Another source said that one major part of the revenue to be earned by the PSL secretariat was the sale of the five franchises which have now been sold for an annual amount of around $9.3 million.
"The problem is that one or two franchises have still neither paid any money to the board nor submitted any guarantees for this year and next year as required by the PCB."

He said the franchises had demanded tax rebates which were rejected.
"And the PSL secretariat has guaranteed the five franchises they will be paid around $1.5 million each from a total revenues pool in the first year to cover their costs and this itself comes up to $7.5 million itself.