Auction for two new PSL franchises to be held today

WEB DESK: The Pakistan Super League (PSL) is set for a significant expansion today, with an open auction for two new city-based franchises to be held at the Jinnah Convention Center this evening. The bidding ceremony is scheduled to begin at 4:15 PM.

The auction will mark a major milestone for the league, which will expand from six to eight teams starting from its eleventh season (PSL 11). The process will commence with the announcement of a reserve price, after which bidding will open to ten pre-qualified corporate contenders.

Intense corporate competition expected

The auction has drawn strong interest from a diverse field of major companies. Confirmed bidders include corporate entities such as M Next, Dharki Sugar Mills, FKS, Prism Developers, Mobilink Jazz, I2C, Walee Technologies, and Vego Tel. The winning bidders will secure the franchise rights for a ten-year term, effective until 2035.

City selection and financial terms

The franchise with the highest successful bid will earn the “first right to choose” its host city from a shortlist of potential locations. The Pakistan Cricket Board (PCB) has identified Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi, and Sialkot as the candidate cities.

Should a winning bidder select a city outside this official list, it will be required to pay an additional fee to the PCB. Furthermore, each new franchise owner must pay a one-time affiliation fee of USD 1.25 million to the cricket board.

Today’s auction is poised to reshape the landscape of Pakistan’s premier T20 league, injecting fresh rivalries and expanding the PSL’s national footprint for the next decade.