PCB to holds auction for two new PSL teams on January 8

ISLAMABAD: The Pakistan Cricket Board (PCB) will hold an auction on January 8 at the Islamabad Convention Centre to invite bids for the inclusion of two additional teams in the 11th season of the Pakistan Super League (PSL).

The base price for bidding on a new franchise has been set at USD 4 million, with the possibility of an increase during the auction process. Interested bidders will be required to submit a security deposit of USD 200,000 as a bidding fee. Unsuccessful bidders will forfeit USD 20,000, while the remaining USD 180,000 will be refunded.

According to sources, the PCB’s bid committee will review all technical and financial aspects of the bids, and only qualified bidders will be invited to participate in the auction.

Sources further revealed that franchise owners purchasing 10-year rights will not be allowed to sell their franchises during the first three years. However, after three years, in 2029, owners may relinquish their ownership if they choose to do so.

As per details, all eight teams will receive USD 3 million annually from the central pool for a five-year period from 2026 to 2030.

The documents, however, do not mention revenue distribution for the remaining five years.

Meanwhile, sources indicate that Multan Sultans owner Ali Tareen has announced his decision to step away from the franchise due to an ongoing dispute with the PCB. His contract is set to expire on December 31.

The PCB is considering running Multan Sultans itself next year, though a final decision is yet to be made.