LAHORE: The Pakistan Cricket Board (PCB) has terminated the franchise agreement with Schon Properties which granted franchise rights of the Pakistan Super League (PSL) team Multan Sultans after the franchise failed to meet is financial obligations. Following the termination of contract, all rights in respect of the team have now been reverted back to the PCB. The PCB, in a statement on Saturday, stated that the termination was brought about due to the former franchisee’s inability to meet its financial obligations under the agreement. However, PCB has reaffirmed that the fourth edition of the PSL will go ahead as planned with six teams and the same number of matches. “The board will take complete responsibility of all player and coach contracts,” added the joint statement by the PCB and Schon Properties. It said that pending further updates, the team will be referred to as “The Sixth Team” of the PSL. “The team selection for the sixth team at the player draft scheduled to be held on 20th November 2018 will be done by PCB itself,” it announced. The PCB will now enter into a public tender process to grant repackaged rights of the sixth team. PSL-4 will kick off in the UAE with a glittering opening ceremony followed by the opening game on February 14, 2019. Published in Daily Times, November 11th 2018.