HBL PSL franchises Refuse to deposit bank guarantee for PSL 2019
HBL (Habib Bank Limited) PSL (Pakistan Super League) franchises refuse to deposit the bank guarantee for the fifth edition of the country’s main T20 league HBL PSL 2019, that is to be played in Pakistan.
According to the details, franchise owners have reservations about various topics, but one of the main areas of concern is regarding the financial accounts of the previous edition of HBL PSL. Almost six months have passed, but the Pakistan Cricket Board (PCB) has not yet finalized the financial statements of Pakistan Super Leauge, which is why franchises have decided not to deposit the bank guarantee.
Franchises are also of the opinion that the PCB should no longer obtain a bank guarantee because the league is now stable enough to operate without that obligation.
Under the initial agreement, PSL franchises had to deposit the bank guarantee one year before the next edition. However, in the previous season, PCB had reduced the period to six months at the insistence of several franchises.
Previously, the board had formed a working committee to address franchise reserves, but no progress was made despite extensive discussions.