Ali tareen owner of franchise Multan Sultan has responded to the issue regarding team’s annual franchise fee.
Several news reported that the participation fee in the fourth edition of PSL was not without deposited from Multan Sultan which was mandatory.
Ali tareen took to twitter while addressing the issue:
PCB had terminated franchise agreement of the Multan Sultans, before the beginning of the fourth edition.
The termination was carried about due to the franchisee’s inability to meet its financial obligations under the Agreement.
The new process of bidding , that followed the PCB had set the reserve price at $5.21 million per annum for a period of seven years.
This reserve price had exceeded by the Ali Tareen-led group. The new owners also decided to continue with the same name for the franchise, that is Multan Sultans.
It was reported that Ali Khan Tareen had won the franchise rights for the ‘Sixth Team’ of HBL PSL, did not pay the annual amount of $6.35 million to the Pakistan Cricket Board.
According to league rules and regulations, every franchise is required to deposit the annual franchise fee before the start of the season.
Reportedly, more than four months have passed, since the final of HBL PSL4 on March 17, but the PCB is still awaiting payment from the Sultans, to which Ali Tareen has now clarified.
