The Pakistan Cricket Board (PCB) on Monday offered a new financial model to the Pakistan Super League (PSL) franchises as it sought to address their reservations.
The development came as PCB Chairman Ramiz Raja chaired a meeting of the Pakistan Super League Governing Council, a statement from the board said.
In PCB's bid to resolve concerns raised by the franchises regarding the league's financial model, the board has offered the following to the six franchises:
COVID-19 relief for HBL PSL 5 and 6
Increased share from the Central Pool of Revenue (CPR) for HBL PSL 7–20
Fixation of the dollar rate
Following the decision, Raja said: "Taking into the account the legal and contractual framework, the PCB has offered a new financial model to the franchises with the sole purpose of supporting and resolving their concerns."
"The PCB expects the franchises to accept this offer so that we can switch our focus on strengthening the HBL PSL brand," the chairman added.
The follow-up meeting came after the PCB chairman had met the Pakistan Super League Governing Council last Friday, where he had highlighted and appreciated the franchises’ contribution to the growth, development, and promotion of Pakistan cricket.
He had assured the team owners that he remained committed to upscaling, enhancing, and strengthening the HBL PSL brand, a statement from the PCB had said.