PSL all set for expansion as PCB receives 12 bids for two new teams
Cricket
The bidders include investors from five countries — the United States, Australia, Canada, the United Arab Emirates and Pakistan — reflecting the league’s increasing recognition
LAHORE (Dunya News) - The Pakistan Cricket Board (PCB) on Wednesday announced that it has received an exceptional and encouraging response to its tender for the sale of two new Pakistan Super League (PSL) franchises, with 12 parties submitting bids within the stipulated deadline.
In a statement, the PCB said the strong interest highlights the PSL’s growing global profile and commercial appeal.
The bidders include investors from five countries — the United States, Australia, Canada, the United Arab Emirates and Pakistan — reflecting the league’s increasing recognition beyond traditional cricket markets.
Pakistan-based solar power company Inverex Power Solution has also confirmed that it is among the bidders vying to acquire one of the new teams.
The cricket board announced that the results of the initial phase of the bidding process will be declared on December 27.
This stage will determine which parties meet the technical requirements to move forward in the process.
Bidders who qualify will then be invited to participate in an open competition bidding process for the acquisition of the two franchises.
This decisive phase is scheduled to take place on January 8 at the Islamabad Convention Centre.
Reiterating its stance, the PCB said the entire process will be conducted in a transparent and competitive manner, in line with international standards, to ensure the sustained expansion and long-term growth of the PSL.
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Launched in 2016 with five teams, the PSL expanded to six franchises in 2018.
The addition of two more teams in the upcoming 11th edition, scheduled to be played next year, will mark the league’s first major restructuring in seven years.
With the expansion, the number of PSL franchises will increase to eight, a move the PCB believes will further strengthen the league’s commercial value, competitiveness and fan engagement both at home and abroad.
