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A foreign company has been appointed to evaluate the value of the Pakistan Super League (PSL) and its franchises. The firm will begin work in the coming days, and its report will determine the new franchise fees and other related matters.
According to details, the PSL has completed 10 years, and now the contracts of the existing six franchises are due for renewal. A minimum 25% increase in the current franchise fees is expected. Before moving forward with the valuation, the PCB had recently invited bids from audit firms through an advertisement. Sources revealed that only one company came forward; it first submitted a technical bid and later a financial bid. After approval, the appointment has now been finalized.
E&Y (Ernst & Young), considered among the world’s leading audit firms, has been assigned the task. Starting next month, it will have six weeks to complete the process and submit its report. The company will seek financial details from both the existing franchises and the PCB. Although the franchises are not bound to share their accounts, failure to do so may result in the company using its own estimated figures, which could be detrimental for them.
Technically, PSL franchises are also required to submit accounts to the PCB every year, but very few actually comply. Once the report is received in October, the PCB will finalize the revised franchise fees as well as the valuation of two new teams.
It is worth noting that under the leadership of Salman Naseer, league operations have been moving at a very slow pace. Neither has he been able to put together a proper team, nor has any progress been made on new commercial agreements. A while ago, franchises were told that the dates for the 11th edition would be announced within a few days, but that promise also remains unfulfilled.
The 10th edition of the PSL was held in the April-May window, where Lahore Qalandars defeated Quetta Gladiators in the final to claim their third PSL trophy.
