The Bangladesh Cricket Board has decided not to hold the Bangladesh Premier League this year after reporting major financial losses from the previous two editions. Speaking on Thursday, BCB president Tamim Iqbal said the board was working on a formula for the tournament and wanted to return with a newly planned BPL next year rather than rush an event.

According to the BCB’s calculations, organising the BPL over the past two years resulted in losses of about Tk 40 crore. Tamim said franchise cricket should generate profit for the board rather than sustained losses, and that staging the tournament before its problems are resolved is not important.

Tamim said the BPL is not being discontinued and that the board has a full intention to organise it. The BCB has begun contacting franchises and plans to address issues including outstanding dues and bank guarantees in stages. It aims to complete the franchise process by April or May next year, while prioritising proper cricket operations and the board’s reputation.