Tareen’s Multan Sultans played PSL 4 without depositing franchise fee

Ali Khan Tareen’s Multan Sultans participated in the fourth edition of the Habib Bank Limited (HBL) Pakistan Super League (PSL) without depositing the mandatory franchise fee, Cricket Pakistan reported.

Tareen-led Multan Consortium had won the franchise rights for the sixth team of the cricketing tournament, however, reports claim that the annual franchise fee of $6.35 million has not yet been paid to the Pakistan Cricket Board (PCB).

According to PSL rules and regulations, every franchise is required to deposit the fee before the start of the season. But despite the passage of over four months since the league’s final match, Sultans have not yet cleared the dues.

“Multan Sultans is in compliance of their franchise agreement,” the report quoted PCB as saying while neither confirming nor denying the news.

Meanwhile, Tareen tweeted:

Regarding article stating MS yet to pay franchise fee: As the team was bought so close to the start of PSL, PCB asked us to pay a portion upfront & the remainder after the tournament. We have already given cheques for the remaining amount to the PCB. 👍🏼

— Ali Khan Tareen (@aliktareen) July 31, 2019

PCB had previously terminated the franchise agreement of the Multan Sultans franchise ahead of the fourth season. The termination was brought about due to the franchise’s inability to meet its financial obligations under the agreement.

In the new bidding process, the PCB had set the reserve price at $5.21 million per annum for a period of seven years. This reserve price had been exceeded by the Ali Tareen-led group.

The new owners had decided to continue with the same name for the franchise.