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With the auction for two new PSL teams on the horizon, the Pakistan Cricket Board (PCB) has finalized the technical assessment for the sale of the franchises, clearing 10 out of 12 bidders for the forthcoming auction.
The 10 eligible bidders shall now be invited to the open auction on 8th January at the Islamabad Convention Center, where the two new PSL teams will be acquired.
10 bidders selected to acquire new PSL teams: how it unfolded?
The bidders for the new franchises come from five countries: Pakistan, USA, Australia, Canada and UAE. These include, telecom, solar panel, real estate companies and other major business groups and personalities, with several overseas Pakistani-backed consortiums having also been formed.
Ali Tareen (The Tareen Group) will also take part in the bidding for the new PSL teams and other notable names such as Arif Habib Group and Inverex would engage in the bidding battle as well..
As regards Ali Tareen, since Multan Sultans had been named the most expensive PSL franchise (1.08 billion PKR), it remains to be seen whether the franchise itself will be managed by the PCB or would it be sold through a new bidding process.
The two new PSL teams will have 10-year ownership rights from 2026-2035 and the winning bidders shall be able to select a city name from Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad or Gilgit.
They may also propose a name outside the list, but PCB reserves the right to approval and rejection. A fee of $1 million (PKR 280 million) will be required for name registration.
The step ahead and what PCB said
The PCB has reportedly set an annual franchise fee at 1.3 billion PKR (Rs 130 crore), with a foreign valuation firm estimating that the new teams could sell for 1.25-1.5 billion PKR.
PSL CEO Salman Naseer congratulated the shortlisted bidders and pointed to the robust interest shown by both domestic and overseas investors. “We extend our congratulations to all successful bidders and thank everyone who submitted proposals. For those who could not participate this time, we hope to explore other opportunities with them in the future,” he stated.
The 11th edition of the PSL is set to be a historic one, running from 26 March to 3 May, making it the longest season in the tournament’s history. It will span 39 playing days, compared to the usual 30 to 35 days of previous editions, and will feature more matches than ever due to the addition of new franchises.
