The Pakistan Cricket Board (PCB) has decided to extend the Pakistan Super League (PSL) by setting an annual franchise cost of INR 1.3 billion for each of the two additional teams that will be added beginning with the 11th edition.
The PSL currently comprises six clubs, but the PCB has long expressed its desire to expand the league.
The impending expansion is part of a larger plan to stabilise franchise revenue and increase the league’s commercial appeal. This drive comes at a time when concerns have been expressed regarding the PSL’s financial strategy, particularly with the recent departure of Multan Sultans’ former owners due to conflicts with the board.
Despite those concerns, interest in the new franchises appears strong. The PCB has confirmed that around 12 parties have submitted initial bid documents, including five overseas groups. To expand its global reach, the board recently conducted PSL roadshows in London and New York, focused on pitching the league to foreign investors.
According to sources, the PCB is looking to sell each of the two new franchises at a fixed annual fee of INR 1.3 billion for the next phase of the PSL. Before finalising bidders, the board will conduct financial and technical due diligence, after which the eligible parties will be confirmed.
Former Multan Sultans owner re-enter process
Notably, the former owners of Multan Sultans, who relinquished the franchise only weeks ago, have re-entered the process by submitting initial documents to bid for the new teams. However, there is still no clarity on the future ownership of Multan Sultans. Strong speculation states that the PCB may run the franchise itself for at least the 11th edition of the PSL, which is scheduled to begin on March 26 next year.
Meanwhile, each franchise is guaranteed a minimum distribution of INR 850 million per season from the central revenue pool for the next five editions, starting with the 11th season. If a team’s share falls below this threshold in any year, the PCB has committed to covering the shortfall.
At present, franchise valuations vary widely. Quetta Gladiators are valued at INR 360 million, Peshawar Zalmi at INR 480 million, Islamabad United at INR 490 million, Karachi Kings at INR 650 million, Lahore Qalandars at INR 670 million, and Multan Sultans at a substantially higher INR 1.8 billion. Once the league expands to eight teams, however, all franchises will receive an equal share from the central revenue pool, regardless of their individual fees. The PCB has also informed teams that they will be allowed to spend up to USD 1.4 million on player acquisitions through the PSL draft.
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