LAHORE – Pakistan Cricket Board (PCB) on Friday appointed a foreign audit firm to conduct the valuation of Pakistan Super League (PSL) franchises, paving the way for a review of franchise fees and related matters as the league completes its 10-year cycle.
Ernst & Young (E&Y), one of the world’s leading audit companies, has been engaged for the task after the PCB invited bids for the valuation process.
Sources confirmed that E&Y was the only firm to come forward and has now been formally appointed.
The company will begin work next month and is expected to complete the audit within six weeks. It will seek financial details from both the PCB and existing franchises.
Although franchises are not legally bound to submit their accounts, failure to provide accurate details may allow the firm to use its own estimates, potentially causing losses for the teams.
Under PSL regulations, the franchises are required to file their accounts with the PCB annually but compliance has remained inconsistent.
Once the report is submitted in October, the PCB will decide on the revised franchise fees, with a minimum 25 percent increase anticipated, as well as the valuation of two potential new teams.
The PSL’s commercial affairs have faced delays under the management of Salman Naseer.
Despite earlier commitments, the board has yet to finalize new commercial deals or announce dates for the 11th edition of the league.
