Savak
World Star
- Joined
- Feb 16, 2006
- Runs
- 50,915
- Post of the Week
- 3
The PCB has recently decided to switch all payments and financial transactions in the PSL to Pakistani Rupees.
The new team's annual franchise fees in PKR is as follows
Lahore Qalandars Rs 670 million ($2.33 million) (55% increase) vs ($2.5 million in 2016)
Karachi Kings Rs 640 million ($2.26 million) (43% increase) vs ($2.6 million in 2016)
Peshawar Zalmi Rs 490 million ($1.73 million) (79% increase) vs ($1.6 million in 2016)
Islamabad United Rs 480 million ($1.69 million) (87% increase) vs ($1.5 million in 2016)
Quetta Gladiators Rs 340 million ($1.2 million) (80% increase) vs ($1.1 million in 2016)
The formula the PCB is using for the new Franchise Fees is the previous fee plus (25% of the increase in the FMV of the Franchise) or 25% of the FMV of the Franchise, whichever is higher.
When these teams were sold in 2016, they were sold in USD when the average PKR-USD Exchange Rate was $105. In the last 10 years, the Pakistani economy has tanked further and the PKR-USD Exchange Rate rose to almost $300 and the Franchises were screaming at the PCB to fix the Exchange Rate which the PCB agreed to peg at $180.
Lol, no wonder these Franchises have happily re-signed their teams for the next 10 years, the PCB has given them these teams at a bargain and they are being rewarded for showing loyalty and being the first investors when the league's future was uncertain and risky.
It appears the PCB is banking on a heavy bonanza on the re-sale of the Multan Sultan's team and the 7th and 8th team
The new team's annual franchise fees in PKR is as follows
Lahore Qalandars Rs 670 million ($2.33 million) (55% increase) vs ($2.5 million in 2016)
Karachi Kings Rs 640 million ($2.26 million) (43% increase) vs ($2.6 million in 2016)
Peshawar Zalmi Rs 490 million ($1.73 million) (79% increase) vs ($1.6 million in 2016)
Islamabad United Rs 480 million ($1.69 million) (87% increase) vs ($1.5 million in 2016)
Quetta Gladiators Rs 340 million ($1.2 million) (80% increase) vs ($1.1 million in 2016)
The formula the PCB is using for the new Franchise Fees is the previous fee plus (25% of the increase in the FMV of the Franchise) or 25% of the FMV of the Franchise, whichever is higher.
When these teams were sold in 2016, they were sold in USD when the average PKR-USD Exchange Rate was $105. In the last 10 years, the Pakistani economy has tanked further and the PKR-USD Exchange Rate rose to almost $300 and the Franchises were screaming at the PCB to fix the Exchange Rate which the PCB agreed to peg at $180.
Lol, no wonder these Franchises have happily re-signed their teams for the next 10 years, the PCB has given them these teams at a bargain and they are being rewarded for showing loyalty and being the first investors when the league's future was uncertain and risky.
It appears the PCB is banking on a heavy bonanza on the re-sale of the Multan Sultan's team and the 7th and 8th team
