PSL 2020 is in danger of cancellation
PSL 2020 is in danger as all the franchises have not yet submitted there bank security,because they have some objections over the PCB policy.
That's why they are hesitating in submitting the bank security. According to the PCB policy PCB collects bank security one year prior to the next edition in advance from all participating franchises of the tournament. Last year as per the demands of the franchises cricket board has decreased this duration to mere 6 months. But now 6 months have passed on but still the franchises have not submitted the bank security inspite of 2 letters from PCB.
One of the main reason behind not submitting bank security is that franchises wants PCB to not ask for bank security instead, they should only take annual fees of the tournament. Here PCB has some reservations as in previous editions some teams were unable to submit annual fees within the given time. Therefore, PCB had to compensate it with bank security. in case they don't take bank guarantees PCB would have to face problems.
Secondly, this year PCB wants franchises to pay there annual fees in pakistani currency. In this case, dollar price will be a big halt. As since some months dollar is constantly fluctuating, it will be difficult for teams and PCB to settle a fix rate. Another problem is that, as PSL is being held in UAE it is easy to pay through bank in dollars.
Third problem in not submitting the security is that the share of franchises in tickets and broadcasting rights is not satisfactory for them. They want PCB to increase there share. Due to all mentioned problems PCB is in doldrums. To brought all the franchises on one page has become a hard nut to crack for the PCB. PCB's governing committee will held a meeting with tge owners of the franchises to take them in confidence. The meeting is supposed to be held in last week of july or in first week of august. Only then it can be said if 2020 PSL will be held or not and how many teams will participate in this edition. For the time being we can only hope for the best.
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