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HomeCricket NewsPCB persuades PSL owners to withdraw the lawsuit over financial model

PCB persuades PSL owners to withdraw the lawsuit over financial model

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The Pakistan Cricket Board (PCB) has been in the headlines after the PSL franchises filed a lawsuit against them in the Lahore court.

Apparently, the PSL franchises has grudges with the PCB over the financial model of the league in the country. The team owners were running into losses despite the successful campaigns of the Pakistan Super League.

However, this time the owners of the franchises had jointly filed a lawsuit against the PCB asking them to modify its financial model. The owners alleged that they have incurred losses of over billions ever since the advent of the league.

The PCB’s legal team countered the allegations but as per the sources, they are trying to settle everything without going into the court.

“The PCB realises the gravity of the situation as the PSL is one of its most successful brands and due to the existing economic conditions in Pakistan and globally, it would not be easy for sale of the franchises if the situation got out of control,” the source said.

The PCB has been overlooking the requests of the PSL teams to change its financial model for months now. But now, they have to face the consequences and submit the detailed reply of the lawsuit to the court before the hearing.

“Outside channels are being used to convince the franchise owners to withdraw their petition and assurances have also been given to them that the board is willing to sit down with them and address their grievances,” the source added.

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