The Pakistan Cricket Board (PCB) is moving full steam ahead with its plan to expand the Pakistan Super League (PSL) by adding two new franchises, with the bidding process officially underway and attracting both local and international interest.
The reserve price for each new team is expected to start at around Rs. 1.25 billion (approx. US$ 4.4m), though sources, according to ProPakistani suggest it could go even higher given the level of interest from serious investors. The board will finalize decisions on the new franchises in January, following the conclusion of the bidding process.
$220k bidding fee designed to attract serious investors
In a move aimed at filtering out frivolous bidders and ensuring genuine investor interest, the PCB has introduced a structured bidding fee. Prospective buyers must submit a refundable security deposit of $200,000 along with a non-refundable fee of $20,000, totaling $220,000.
“The PCB will filter out bidders lacking financial commitment after interested parties submit the fee along with their official offer,” sources said as quoted by 92NewsHD, highlighting the board’s intent to take a more selective approach.
The deadline for submitting bids is December 15, with only technically qualified bidders moving on to the next stage of evaluation.
Local and international firms join race for PSL slots
Investor interest has surged in anticipation of the new franchises. According to insiders, five major Pakistani companies, including prominent players in real estate and solar energy—both sectors with existing ties to cricket—have expressed intent to bid.
On the international front, two U.S.-based entrepreneurs, along with investors from the U.K. and a European country, are also preparing to enter the fray. One of the prominent local bidders reportedly includes a company named “T Group of Companies.”
The PCB’s decision to expand the league is expected to increase competition, broaden commercial appeal, and elevate the PSL’s status as one of the world’s fastest-growing T20 leagues.
Uncertainty looms over Multan Sultans’ future
Amid the expansion buzz, the future of the Multan Sultans remains in question. Owner Ali Tareen has reportedly decided to exit the league, although no official confirmation has been provided by the PCB. Political figures are said to be mediating behind the scenes, leaving the door open for a potential reversal.
The franchise currently pays an annual fee of Rs. 1.08 billion (≈ US$ 3.87m), which could rise to Rs. 1.3 billion (≈ US$ 4.66m) if a projected 25% increase is implemented—an amount believed to have played a role in the owners’ potential withdrawal.
If Tareen follows through with his exit, there is no guarantee the rights to the “Multan Sultans” name will be retained, and it remains uncertain whether the current ownership group will be eligible to re-enter the bidding process.
Expansion to reshape PSL’s commercial landscape
The addition of two new franchises is seen as a major turning point in the PSL’s evolution, with the PCB adopting a more professional and investor-focused process. The emphasis on strong due diligence, steep reserve prices, and a structured bidding mechanism signals a more aggressive commercial strategy by the board.
With bidding fees set, investor interest confirmed, and a deadline fast approaching, the stage is set for a transformative expansion in what has become one of cricket’s most commercially viable leagues.
