LHC stops PCB from taking financial guarantees from PSL franchises for next season
LAHORE : The Lahore High Court (LHC) on Friday stopped the Pakistan Cricket Board (PCB) from taking any financial guarantees from the Pakistan Super League (PSL) franchises for the next season of the country’s premier cricket tournament.
LHC’s Justice Sajid Mehmood Sethi issued the orders and asked the PCB to submit its reply in the case filed by the franchises by September 30.
On Thursday, the franchises had approached the LHC against the PCB for its failure to address their reservations over the tournament’s financial model.
In a petition filed through leading lawyers Ahmer Bilal Soofi and Salman Akram Raja, the franchises said they have been suffering major losses due to the financial model being used by the cricket board over the last five years.
They said they were hoping that the league would be profitable for them after the fifth edition took place in Pakistan instead of UAE but that was not the case.
“Over the past few months, the relationship between the PCB and the franchises had turned sour while the cancellation of governing council’s meeting, towards the end of July, took matters to the point of no return,” the petition stated.
The petition added that the franchises were also not happy with the fact that the PCB had asked them to submit financial guarantee, by September 25, for the next season, even before the fifth edition has been completed, rather than addressing their grievances.
“The franchises were disappointed to see the PCB’s approach, while dealing with them, despite helping the board turn the league into a big brand,” it further stated.
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