High Stakes in Pakistan Super League Auction: New Franchises Up for Grabs!

The Pakistan Cricket Board (PCB) is auctioning two new Pakistan Super League teams, with bids due January 8. Despite recent ownership changes for Multan Sultans, interest remains high with 12 parties, including international ones, submitting bids. The PCB guarantees a minimum revenue distribution to boost investor confidence.

The Pakistan Cricket Board (PCB) is gearing up to auction two new franchises for the Pakistan Super League (PSL) at an annual fee of 1.3 billion Pakistani rupees each. The final auction is set for January 8, drawing significant interest from across the globe.

Amid intriguing developments, former Multan Sultans owners have re-entered the bidding, despite recent ownership disputes. Meanwhile, the PCB is considering managing the Multan franchise itself for the upcoming PSL season, slated to start March 26.

Approximately 12 parties, including five international groups, are eyeing the two new franchises. In a bid to woo investors, the PCB has promised a substantial revenue distribution guarantee for the next five seasons. The board's decision is aimed at addressing prior financial concerns raised by stakeholders.

(With inputs from agencies.)