The Pakistan Cricket Board (PCB) is moving ahead with plans to expand the Pakistan Super League and is aiming to sell each of its two new teams at an annual franchise fee of 1.3 billion Pakistani rupees. Sources say the final auction for these teams is scheduled to take place on January 8.
In an interesting development, the former owners of Multan Sultans have submitted their initial bid documents for the auction. This comes just weeks after they stepped away from the franchise following disagreements with the PCB, suggesting they are still keen to remain part of the league.
Uncertainty Surrounding Multan Sultans Ownership
Despite the activity around the new teams, there is still no clear picture about who will own the Multan Sultans going forward. There is strong speculation that the PCB may run the Multan franchise itself for at least the 11th edition of the PSL, which is set to begin on March 26 next year.
This temporary arrangement would allow the league to move ahead smoothly while longer-term ownership issues are sorted out.
Strong Interest From Local and Overseas Investors
The PCB has stated that around 12 parties have submitted initial bid documents for the two new teams. This group reportedly includes five bidders from overseas, showing growing international interest in the PSL.
However, the board has yet to announce the final list of approved bidders, as financial and technical checks are still underway. Only those who clear this due diligence process will be allowed to take part in the final auction.
Roadshows Held to Attract Global Investors
Earlier this month, the PCB organised PSL roadshows in London and New York to drum up interest from foreign investors. These events were aimed at showcasing the league’s growth, commercial potential, and global reach as it enters a new phase with eight teams.
Guaranteed Revenue to Reassure Franchises
To make the investment more attractive, the PCB has offered a strong financial guarantee to franchise owners. Each team will receive a minimum of 850 million Pakistani rupees from the central revenue pool for each of the next five seasons, starting with the 11th edition.
If a franchise earns less than this guaranteed amount from the central pool in any season, the PCB has promised to make up the difference. While the annual franchise fees for the existing six teams are not the same, all eight teams in the expanded league will receive an equal share from the central revenue pool.
Current Franchise Valuations and Spending Limits
At present, Quetta Gladiators are valued at 360 million rupees, Peshawar Zalmi at 480 million, Islamabad United at 490 million, Karachi Kings at 650 million, Lahore Qalandars at 670 million, and Multan Sultans at a much higher 1.8 billion rupees.
The PCB has also informed franchises that they will be allowed to spend up to USD 1.4 million each on player signings through the PSL draft, giving teams room to build competitive squads.
Financial Model Remains a Talking Point
Former Multan Sultans owner Ali Tareen had previously raised concerns about the PSL’s financial structure. He pointed to imbalances in the model that he believed were causing losses for some franchises, an issue that continues to spark debate as the league looks to expand and evolve.
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