Published 20:04 IST, September 30th 2020
PCB suffers losses after wrongly paying ₹11 crore to PSL 2020 franchises since 2016?
The PCB has come under the scrutiny of law yet again after several financial irregularities were discovered regarding transactions to PSL franchises in 2016.
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Things don't seem going to be too well for Pakistan cricket as the Pakistan Cricket Board (PCB) is in deep waters after dealing with various losses according to an independent audit that was carried out for the first two seasons of Pakistan Super League. Several financial irregularities were identified as per the audit and a meeting is set to take place to discuss the same. Top PCB officials along with Ehsan Mani, the chairman of PCB, will attend the meeting.
As per a report in Cricket Pakistan, it is suggested that the PCB had wrongly paid over an amount that nearly came up to ₹11 crore in Indian rupees to the franchises after the first season of the league saw franchises incurring heavy losses. It was discovered that the PCB had approved this through an email to pay a sum of ₹11 crore to every franchise after the season ended. It was also noted that funds related to PSL were transferred outside of the country to a third party unlawfully as per the 55-page report.
The internal audit faced several challenges while scrutinizing the records due to the presence of PCB's Chief Financial Officer in the audit. This is an additional challenge for the Pakistan Cricket Board after the PCB PSL court case. The board will look streamline their finances before the recommencement of the PSL 2020.
PCB PSL court case
As per a report by ESPNcricinfo, the franchises of PSL 2020 have moved to the Lahore High Court with a petition as the owners are not pleased with the existing franchise-based model for Pakistan's marquee event. The franchises claim that the model has been designed in a manner that PCB is the major beneficiary of all the profits, while the franchises have to incur heavy losses. The board is striving to ensure the franchises withdraw their petition.
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PSL 2020 updates: PSL postponed
As per the Pakistan Cricket Board's press release, the Gaddafi Stadium in Lahore will host the remaining four matches of the PSL 2020 between November 14 and 17. A special bio-secure bubble is on the cards to ensure there is no lapse of any kind. The four teams that will feature in the PSL 2020 playoffs are Multan Sultans, Karachi Kings, Lahore Qalandars and Peshawar Zalmi. Pakistan are players are already in a bio-secure environment as they gear up for Pakistan National T20 Cup.
20:04 IST, September 30th 2020