The Pakistan Cricket Board has launched a firm campaign to recover billions of Pakistani rupees in unpaid dues from franchises, broadcast partners, and commercial associates, as it looks to strengthen its financial position and bring greater discipline to its contractual ecosystem.
According to a report by PTI, the board has recently issued legal notices to several stakeholders linked with the Pakistan Super League. These notices warn defaulters to immediately clear outstanding payments or risk serious consequences, including potential cancellation of their contracts. Initially, a number of PSL franchises were among those flagged for failing to pay their annual franchise fees. However, these teams have since cleared their dues after receiving formal communication from the PCB.
Despite settling their payments, some franchises have raised concerns of their own. They claim the PCB has yet to release their share of revenue from the league’s central pool, particularly from earlier editions. One franchise reportedly highlighted that nearly PKR 96 crore from the 10th edition of the PSL remains unpaid. In response, the PCB has taken a firm stance, indicating that it cannot be expected to release funds when contracted parties themselves have not honored their financial commitments. Even so, the board is believed to still owe multiple franchises between PKR 40 to 45 crore related to the 2025 financial cycle.
A significant portion of the financial strain stems from a major media rights company that had secured broadcasting, streaming, and commercial rights not only for the PSL but also for international cricket managed by the PCB. This company has reportedly defaulted on payments amounting to around PKR 4.5 billion, citing substantial financial losses. The impact of this default has been severe, affecting the PCB’s ability to maintain updated financial records and complete audits in a timely manner.
The new ownership of Multan Sultans, have complied fully with their financial obligations. They paid all franchise fees and related dues before the start of PSL 11, which concluded recently. However, this also creates a new financial responsibility for the PCB, as it must now provide these franchises with a guaranteed minimum payment of approximately PKR 85 crore per season from the central revenue pool for the next several editions.
The board’s challenges are further compounded by other defaulting partners who had purchased sponsorship packages, advertising slots, and media inventory but have yet to clear their payments. Adding another layer of complexity, the PCB sold the broadcast and streaming rights for PSL 11 to a new entity that also owns the Rawalpindi franchise. This entity subsequently sublicensed the rights back to the same company that is already in default, creating a circular financial issue that the PCB must now resolve.
Overall, the PCB’s recovery drive reflects a broader effort to enforce accountability, stabilize cash flow, and ensure long-term sustainability for the league and Pakistan cricket.
– Ends
Source link
[ad_3]
