PCB Announces PSL Expansion: Two New Teams, Six Cities, and Franchise Renewals

The Pakistan Cricket Board (PCB) is planning to expand the Pakistan Super League (PSL) and is giving interested parties six cities to choose from. The board has invited bids from people or groups who want to own a franchise, which will be granted for a period of 10 years. PSL CEO Salman Naseer had earlier said that the new teams will be sold through an auction, and bidders can pick any city from the approved list.

The league is now getting ready to start the process for selling the two new teams, taking the domestic T20 tournament to the next level. The Pakistan Cricket Board has finalized the independent valuation of all existing PSL franchises and related commercial assets. Following the assessment, the board has issued renewal offer letters to current franchise owners.

PCB Announces PSL Expansion and Franchise Renewal Process

The PCB has shortlisted six potential cities - Hyderabad, Sialkot, Muzaffarabad, Faisalabad, Gilgit, and Rawalpindi - for the addition of two new teams. Notably, the final decision will be made through an open auction process, where interested bidders will have the option to select a city from the approved list.

"The Pakistan Cricket Board (PCB) has announced the completion of the independent valuation process for the Pakistan Super League (PSL) franchises and other commercial assets," the statement read.

"Following the conclusion of this exercise, renewal offer letters reflecting the new franchise fees for the next 10 years have been formally shared with all compliant PSL Franchises, requesting them to revert with their decision within the stipulated timeline," the statement added.

Global auditing firm EY MENA has carried out a valuation of all the existing PSL franchises. The six current teams, Lahore Qalandars, Karachi Kings, Islamabad United, Quetta Gladiators, Peshawar Zalmi, and Multan Sultans, have each been given a renewal offer with updated financial terms for the next ten years. 

PCB Sends Renewal Letters with Revised Franchise Fees Ahead of PSL 11

Franchise owners have been given a set deadline to respond to the offers. In a bid to ensure transparency and mutual understanding, the PCB has organized detailed meetings between the valuation experts and team managements, both jointly and individually. Following the assessment, renewal letters were sent to all six existing teams. The auditors recommended a substantial fee increase ranging between 75 and 150 percent for the current franchises.

"The audit firm has sent renewal letters to the six franchises reflecting the new annual franchise fees for the next 10 years and the teams have been requested to revert with their decisions in the given time frame," one official said.

Among all the teams, Multan Sultans is still the most valuable, with an annual fee of USD 6.35 million. The other teams have fees ranging from USD 2.6 million to USD 1.3 million. The PCB also talked about different aspects of the league’s future, but no final decision has been made yet about the schedule for the 11th edition of the PSL. Next season is expected to take place again during the same time as the Indian Premier League, between March and May.