ISLAMABAD: Owners of two new Pakistan Super League (PSL) teams along with PCB Chairman Mohsin Naqvi met Prime Minister Mian Muhammad Shehbaz Sharif at the Prime Minister’s House on Friday.
Union Information Minister Ataullah Tarar, PSL CEO Salman Naseer and PCB Chief Operating Officer Syed Sameer Ahmed attended the meeting.
The historic auction held at the Jinnah Convention Center marked the start of the league’s expansion into its 11th edition.
Hamza Majeed-owned OZ Developers bagged the rights to the eighth franchise in a star-studded bidding process.
After FKS Group bought Hyderabad’s first new franchise for Rs1.75 billion ($6,247,500), the base price for the second team was set at Rs1.70 billion, sparking fierce competition among eight qualified bidders.
Mr Majeed’s company prevailed by offering Rs1.85 billion, successfully winning the bid and naming Sialkot after the new owner.
This marks the second biggest expansion in PSL history.
Multan Sultans became the first team to be added in the third season of the league, increasing the number of teams from five to six.
With this year’s 11th edition, two additional teams have been introduced, bringing the total to eight teams.
The 11th edition of PSL is scheduled to take place from March 26 to May 3, promising another exciting season of cricket for fans in Pakistan and beyond.
Successful bidders were allowed to select their hometown from the PCB-approved list, which included Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad and Gilgit.
Following the landmark 10th edition of the PSL, the PCB conducted an evaluation of the existing six franchises and issued contract updates to the respective franchises.
Five franchises signed the extension, while Multan Sultans are now under the direct control of the cricket board.
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