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PSL franchises refute Ramiz Raja's assertions that PSL 7 profits were PKR 810 million

  • author
  • 2022-06-27 13:45:14
  • Cricket
PSL franchises refute Ramiz Raja's assertions that PSL 7 profits were PKR 810 million

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Franchises criticised the claim as false and said that PKR 400–500 million in expenses were not even subtracted.

Franchises in the Pakistan Super League (PSL) are hunting for their money after learning with shock that each team made PKR 810 million in profit, according to PCB Chairman Ramiz Raja.

Franchises criticised the figure as being incorrect and said that PKR 400–500 million in expenses were not even subtracted.

Just prior to the competition"s end, Ramiz Raja reportedly claimed that each franchise would receive a profit of PKR 900 million from PSL 7. However, he stated that each franchise had achieved a profit of PKR 810 million during the media briefing on Friday in Lahore.

When Rameez disclosed the teams" portion of the PSL Central Pool, he overlooked the fact that profitability comes after expenses are deducted.

95 percent of the PSL"s TV production expenses must be covered by the clubs. Each club will be required to spend at least PKR 130 million in this regard, according to a conservative estimate.

An event manager charged PKR 65 million for hotel accommodations, PKR 10 million for transport, PKR 150 million for daily living expenditures (LED screens in the ground, etc.) PKR 14 million, PKR 170 million in player payments, and PKR 20 million in coach fees. Depending on each side, this may be more or less.

After deductions, the minimum is 42 million Pakistani rupees. Therefore, expenses will equal half of the chairman"s declared revenue. If the fees are eliminated, many franchises will suffer losses.

However, because of decreased payments, organisations like Quetta Gladiators and Islamabad United would profit. If you include your sponsorship revenue, some franchisees will turn a profit. However, teams like Multan Sultans will once again incur significant losses because their payments alone exceed PKR 1 billion.

On the other hand, the board has not distributed to franchises 50% of the central revenue pool. Franchises were supposed to receive 50% of the total by May 5, but this didn"t happen because some stakeholders didn"t pay; nonetheless, the CFO has promised that 90% of the total will be paid in July. According to the deal, the final 10% would be kept back until December.

When approached, PCB Director of Media Sami-ul-Hasan Burney stated that it is a good thing that franchisees earned financial benefit for the first time in PSL history. Within first 15 days of next month, they will receive their entire payment.

In the meantime, the board also transferred the costs of the legal action against the franchisees. Owners are dissatisfied since former chairman Ehsan Mani frequently stated that PCB would pay the sum.

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