The main objection of the franchisees is that the PCB, despite repeated guarantees, had not been able to modify the financial model of the league. (Representative image)

The Pakistan Cricket Board is trying to appease the six Pakistani Super League franchise owners who have brought the board to Lahore High Court over the financial model of the T20 event.

The owners of Lahore Qalandars, Quetta Gladiators, Multan Sultans, Karachi Kings, Peshawar Zalmi, and Islamabad United, in a joint petition filed with the court, made it clear that they had lost billions of rupees since the start of the tournament in the absence of a viable financial model.

According to franchisees, the financial model leaned in favor of the PCB, which had made billions from the PSL in the past five years, even as the team’s owners suffered losses.

At a preliminary hearing held last week, the PCB legal team took a firm stance on the petition filed by the owners, but sources, aware of the developments, said behind-the-scenes efforts are being made to resolve the matter outside of the courts.

“The PCB realizes the seriousness of the situation as PSL is one of its most successful brands and due to the economic conditions in Pakistan and around the world, it would not be easy to sell the franchises if the situation were to turn out. of control”. the source said.

The main objection of the franchisees is that the PCB, despite repeated guarantees, had not been able to modify the financial model of the league.

The judge, who will hear the matter again on Wednesday, had asked the PCB to submit a detailed response to the petition submitted by the franchisees.

“Outside channels are being used to convince franchise owners to withdraw their petition and they have also been assured that the board is willing to sit down with them and address their complaints,” added the source.