PSL set to become Private Company

PSL Transforms to Private Company:

Pakistan Cricket Board is planning to transform Pakistan Super League in to a Private Limited Company. Shahryar Khan made an announcement that approval has been granted to transform PSL into Ltd. however T20 league will still run under direction of PCB. All the profit raised by the tournament will be own by Pakistan Cricket Board. PCB will maintain current system in domestic cricket that will cover both regional and departmental sectors. PCB will also do investment in developing cricket in schools. Numerous cricket championships will be held among school and private schools will be included in these tournaments. Pakistan Cricket Board will give special attention to Federal Administered Tribal Area (FATA), Azad Jammu and Kashmir and Quetta. “It will remain 100% under the control of PCB, and will operate under the control of PCB. It will have PCB directors in majority which will give automatically control to the Pakistan Cricket Board,” said Shahryar Khan, chairman of PCB. “PSL will not get out PCB’s overseeing,” he insisted. Privatization of Pakistan Super League will commence soon as Pakistan Cricket Board has already approved the idea of making PSL a Private Limited Company.

Five franchises agreed to free up PSL from PCB and make it a Ltd. In this way PSL T20 league will be separated from politics of PCB. Even though majority of PSL board members will be from PCB, it has been suggested to add two independent directors to PSL to keep it transparent. There is also an ongoing debate of having members on PSL board from franchises. “For the betterment of PSL, it’s important to keep a top product away from all the politics of PCB,” one of the franchise representatives said. “In the longer run, PSL will only be a success if it is run as a private limited company. More than PCB, it is the franchises for whom the stakes are really high which is why their say should hold value as well”.

PSL New Structure:

Final confirmation of transforming PSL in to private company is not announced yet. PCB board of governors has decided to make PSL a private company registered with SECP. Such move will introduce a corporate culture in Pakistan cricket. Current head of PSL Najam Sethi is one of PCB nominee as director of new company. “From PCB I am one of the nominated directors as I am already overseeing PSL affairs,” said Sethi who is also the chairman of PCB’s executive committee. “Shakil Sheikh and Mansoor Masood Khan are also nominated by the PCB to represent interests of regions and departments respectively. While Arif Habib and Zia Rizvi will be independent directors,” he added. One of the PCB director would be CEO of the new company and one of the independent director will be chairman of new company.

• Najam Sethi might become CEO of new company (PSL private limited).
• Arif Habib might become chairman of new company (PSL private limited).

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