The Pakistan Cricket Board (PCB) confirms a six-city shortlist as it moves to introduce two new franchise teams into the immensely popular Pakistan Super League (PSL). This strategic expansion is set to bring the league to new territories and deepen its engagement with cricket fans across the nation. The announcement marks a significant step in the continuous growth and evolution of Pakistan’s premier T20 tournament.
The cities vying to host these new PSL teams are Hyderabad, Rawalpindi, Faisalabad, Gilgit, Muzaffarabad, and Sialkot. This exclusive list was finalized by the PCB after detailed valuation reports for the prospective new teams were thoroughly reviewed and received. The selection process underscores the board’s commitment to strategic and data-driven expansion.
According to a press release issued by the country’s cricket board on Friday, the tender process for the sale of ownership rights for these two new teams will be formally initiated shortly. This phase will invite interested parties to bid for the opportunity to own and operate a new PSL franchise, promising to inject fresh investment and competition into the league. SindhNews.com also reported keenly on this development.
Valuation Process for Existing PSL Teams Also Completed
In a related development, the PCB announced the successful completion of an independent valuation process for the existing PSL franchises and other associated commercial assets. This exercise aims to provide a comprehensive financial overview and establish fair market values across the board.
Following the conclusion of this extensive valuation, renewal offer letters, reflecting new franchise fees for the next 10 years, have been formally distributed to all existing compliant PSL franchises. These teams have been given a stipulated timeline to revert with their decisions regarding the renewal.
To ensure utmost transparency and facilitate a clear understanding of the valuations, the PCB has arranged collective and individual meetings. These sessions involve franchise representatives and the independent valuer, EY MENA, allowing teams to review the valuation methodology and discuss any queries they may have. This commitment to openness aims to foster confidence and collaboration among stakeholders.
Conclusion
The PCB’s proactive steps—confirming a six-city shortlist for new PSL teams and finalizing valuations for existing franchises—highlight a focused strategy for the league’s future prosperity. This dual approach not only promises a vibrant expansion of the tournament into new regions but also strengthens its commercial foundations, ensuring sustained growth and excitement for cricket enthusiasts.