The Pakistan Cricket Board (PCB) has scheduled a crucial meeting with the representatives of the Pakistan Super League (PSL) franchises, which is set to take place on June 23.
As per the officials, PCB has requested the franchise representatives, who are currently abroad, to participate in the meeting via Zoom to ensure their involvement.
During this crucial meeting, cricket board officials plan to disclose further details regarding the addition of two new franchises to the PSL competitions in the future.
The PCB has reassured all franchise owners that a meticulously crafted formula will be implemented to prevent any financial losses for any party involved in the league.
It has been revealed that, under the proposed plan, the existing six franchises will continue to receive 95 percent of the central pool of PSL revenue for another year.
The agreement allows for the expansion of teams starting from the 11th year, providing the new franchises with ample opportunities to generate substantial profits.
Franchises will have the option to acquire teams in the women’s league, and if they choose not to, interested parties will be approached, and the teams will be sold accordingly.
Another proposal suggests extending the ownership tenure to 50 years. As per the current contract, franchise fees will increase by 25 percent in the 11th year.
Source: Pro Pakistani