ISLAMABAD - Big scandal surface over Pakistan Super League franchise rights under PCB Chairman Najam Sethi tenure.
It has been revealed that the Pakistan Cricket Board (PCB) awarded rights for PSL franchises to unqualified firms which are registered in the British Virgin Islands and Free Zone Establishment.
According to a local media outlet link, a special audit was performed by Auditor General of Pakistan (AGP) for PSL’s first and second season. The audit read:
It was analysed with concern that undue favor had been extended to some firms and that the franchise contracts (ten years each) were awarded in a subjective manner.
It was revealed in the audit that PSL franchises, Karachi Kings and Islamabad United, are registered in the UAE and the British Virgin Islands respectively.
The report has also revealed that the market value of the PSL was nearly $300 million in 2017 but the PCB management sold the commercial rights to the initial franchises in just $93 million in 2015. Requirements for Franchise Registration
According to the details, a number of requirements had to be fulfilled in order to qualify for the selection process.
The competing firms which failed either one of the requirements mentioned below were no longer eligible to apply for the franchise rights.