PCB Shortlists Six Cities For Two New PSL Franchises

PCB shortlists six cities for two new PSL franchises (Image Source: IANS)

The Pakistan Cricket Board: The Pakistan Cricket Board (PCB) has revealed six potential cities for bidders interested in acquiring the rights to own two new teams in the Pakistan Super League (PSL) for the upcoming decade.

In a recent meeting between PSL CEO Salman Naseer and current franchise representatives, the PCB announced that bidders would be able to select from Hyderabad, Sialkot, Faisalabad, Muzaffarabad, Gilgit, and Rawalpindi. The process to acquire ownership of the new teams will begin with the issuance of tenders in the coming days, with the sale expected to be concluded by next month.

Following the conclusion of this exercise, renewal offer letters reflecting the new franchise fees for the next 10 years have been formally shared with all compliant PSL Franchises requesting them to revert with their decision within the stipulated timeline.

“To ensure full transparency and facilitate a clear understanding of the valuations, the PCB has also arranged collective and individual meetings between franchise representatives and the independent valuer (EY MENA). These sessions will allow the franchises to review the valuation methodology and discuss any queries,” the PCB said in a statement.

“The valuation reports for two new PSL Franchise Teams have also been received by the PCB and the tender process for their sale will be formally initiated shortly,” it added.

“To ensure full transparency and facilitate a clear understanding of the valuations, the PCB has also arranged collective and individual meetings between franchise representatives and the independent valuer (EY MENA). These sessions will allow the franchises to review the valuation methodology and discuss any queries,” the PCB said in a statement.

Despite these developments, the meeting did not finalise the schedule for the 11th edition of the PSL, which is expected to clash once again with the Indian Premier League (IPL), as both leagues are likely to be held between March and May next year. This scheduling conflict may raise concerns for players and teams as they balance participation in both leagues.

Article Source: IANS