LAHORE: The Pakistan Cricket Board (PCB) on Wednesday shared that 12 parties from five different continents will bid for two new Pakistan Super League (PSL) rights within the stipulated deadline, ending today on December 24.
In a brief statement, the cricket board shared that investors from the United States (US), Australia, Canada, United Arab Emirates (UAE) and Pakistan have expressed their interest in buying the rights for sale, depicting the global popularity and commercial appeal of the marquee league.
“The Pakistan Cricket Board (PCB) has announced an exceptional and encouraging response to the tender issued for the sale of the two new owners of the HBL Pakistan Super League (PSL). Within the stipulated deadline, 12 parties have formally submitted their bids,” the cricket board said in a statement.
“These bidders hail from five continents, including the US, Australia, Canada, the United Arab Emirates (UAE) and Pakistan, clearly reflecting the PSL’s growing global popularity and commercial appeal,” it added.
The PCB also announced that the “results” of the initial phase of the bidding process will be announced on December 27, which will determine the technically qualified parties to purchase the two new teams through an open auction on January 8.
“The results of this phase of bidding will be announced on December 27. In the next phase, technically qualified bidders will be given an opportunity to purchase two new teams through open competitive bidding,” the statement continued.
“The stage will be held on January 8 at the Islamabad Convention Centre. The Pakistan Cricket Board is committed to complete the process in a transparent and competitive manner as per international standards to ensure continued expansion and growth of the HBL Pakistan Super League.”
Notably, the PSL, which started with five franchises in 2016 and later expanded to six sides in 2018, has further expanded with the addition of two new teams from its upcoming 11th edition to be played next year.
With the upcoming additions, PSL will undergo its first major overhaul in seven years, bringing the total number of franchises to eight.
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