PSL owners should be patient

If someone showed a businessman this picture before he invested, the apartment is excellent, all facilities are available, but the rent is extremely high; no matter how long you stay, you remain a tenant and never acquire ownership rights. You can use the apartment for various activities and generate income, but even that may not cover the rent. Important and influential people frequently visit, so you may get opportunities to meet them and become famous. But if someone knowingly enters such a venture and then, without giving it enough time, complains about the lack of profits, the blame lies with him.

The same applies to the Pakistan Super League (PSL). Ali Tareen repeatedly complained about losses and eventually, after making some harsh statements, lost the Multan Sultans franchise. The owners before him had also complained about losses and walked away. Yet the Tareens bought the franchise for an even higher price. After Alamgir Tareen’s death, Ali became the owner, looked at the accounts and realized what a loss-making proposition it was.

When he, too, moved on, Gohar Shah paid an even higher price to acquire a team and retained the Multan Sultans name. Now, only months later, he too is talking to the media about losses.

Anyone could have predicted this. But the glitter was so attractive that people apparently closed their eyes to reality. Why did they bid so aggressively? If you knowingly bought a team, then be patient. When you plant a tree, it does not bear fruit within a few months; it takes time.

Everyone knows the PSL’s financial model. Whether a franchise fee is one hundred thousand or one hundred million, the PCB distributes central pool revenue equally among franchises. The new, expensive franchises knew this too. So they should be patient.

The PSL’s excitement lasts only about two months a year. During that period, franchise owners become celebrities. For the remaining ten months, even the PCB hardly pays attention to them.

On paper, the league is profitable, but the real financial beneficiary is the PCB. Franchises pay enormous fees, while the board can stage a major tournament without making the same level of franchise investment.

For the past two years, some stakeholders have failed to make payments, citing war or other excuses. As a result, franchises have not received money owed to them and naturally are under pressure.

Chairman PCB Mohsin Naqvi separated the PSL’s affairs from the rest of the Board and gave its officials a free hand. Unfortunately, they have failed to deliver. Some have prioritized personal publicity over their responsibilities. The same problem that emerged last year still exists today. Resolve that issue first, and then think about next year.

The PSL remains the biggest brand in Pakistan’s cricket. Steps must be taken to make it successful. Now is the time to deliver.

Franchise owners should understand that if they cannot afford the losses, they should inform the PCB and leave the league. There are still plenty of people waiting to acquire a franchise.

There is no benefit in going to the international media and damaging the league’s reputation. Nobody was forced to buy a franchise. Everyone voluntarily paid huge sums to acquire one.

Owners should either wait for franchises to begin generating substantial profits, or build their brands so strongly that sponsorships and other commercial activities make them profitable.

Simply airing grievances will achieve nothing.