Chairman PCB Rameez Raja had announced a profit of Rs 90 crore to the PSL Franchises from PSL 7 a few months back. Now, in a media conference in Lahore on Friday, he claimed that each franchise has made a profit of Rs 81 crore. On the other hand, the facts are the opposite. The franchise also expressed surprise at the statement of the Chairman PCB.
Rameez announced the franchise share from PSL Central Pool but he forgot the fact that profit is after deducting expenses, franchisees have to pay 95% of PSL’s TV production expenses.
According to a conservative estimate, each team will have to pay at least Rs. Etc. 14 million, players ‘compensation will be Rs. 17 crore, coaches’ fee will be Rs. Half of the reported revenue will be deducted from expenses, after which the franchisees will lose a lot if they remove the amount of their fees, however, teams like Quetta Gladiators and Islamabad United will benefit due to lower fees. Some franchises will make a profit if they add their sponsorship revenue, but teams like Multan Sultans will suffer a huge loss this time as their fees alone are more than one billion rupees.
On the other hand, the PCB has not yet made any payment to the franchisees. Under the agreement, 50 per cent of the amount was to be paid by May 5, but it did not happen. In this regard, the CFO of the board has assured the team owners that 90% payment will be made in July, the remaining 10% is withheld till December under the agreement.
On the other hand, the board also transferred the expenses of the court case from one of its stakeholders to the account of the franchisees, on which the owners are unhappy. Former chairman Ehsan Mani had said many times that the PCB would pay the amount.
Meanwhile, when contacted, PCB Media Director Samiul Hassan Burney said that for the first time PSL franchises made a profit which is very welcome, adding that full payment will be made to all in the first 15 days of July.