RAWALPINDI (MNN); The Pakistan Cricket Board (PCB) on Wednesday announced that it has received an exceptional and encouraging response to its tender for the sale of two new Pakistan Super League (PSL) franchises, with 12 interested parties submitting bids before the deadline.
The bidding deadline had been extended several times, first from December 15 to December 22 and later to December 24, amid increasing interest from investors across Europe, the United States, the Middle East and other regions. The heightened interest followed promotional roadshows held in London and New York.
The strong response marks a major step toward expanding the PSL from six to eight teams beginning with the 2026 season. This will be the league’s first major expansion since the inclusion of Multan Sultans in 2018.
According to the PCB, bidders from five countries — the United States, Australia, Canada, the United Arab Emirates and Pakistan — took part in the process, reflecting the league’s growing international profile and commercial appeal.
Pakistan-based solar energy firm Inverex Power Solution, a long-standing PSL sponsor, confirmed that it has submitted a bid for one of the two new franchises. Media reports also indicate interest from telecom companies, real estate firms and investment groups involving US-based Pakistani entrepreneurs.
The PCB said the results of the initial bidding phase will be announced on December 27. Parties that meet the technical and financial criteria will then be invited to participate in an open competition bidding round for the two franchises.
This next phase is scheduled to take place on January 8 at the Islamabad Convention Centre.
The PCB reaffirmed its commitment to ensuring a transparent and competitive process in line with international standards, with the goal of securing the PSL’s long-term growth and sustainability.
The expansion comes as the original 10-year franchise agreements conclude after the 2025 season. Five of the six existing franchises — Islamabad United, Karachi Kings, Lahore Qalandars, Peshawar Zalmi and Quetta Gladiators — have renewed their agreements following revised valuations carried out by Ernst & Young.
However, the future of Multan Sultans remains uncertain due to ongoing contractual disputes.
The successful bidders will be able to select a home city from a shortlist that includes Hyderabad, Rawalpindi, Faisalabad, Gilgit, Muzaffarabad and Sialkot.
The 11th edition of the PSL is scheduled to be held from March 26 to May 3, 2026. The tournament will run alongside the Indian Premier League during the April-May window, a move aimed at improving the availability of overseas players.
A revised tournament format will be introduced to accommodate eight teams within a 39-day schedule, with matches likely to be staged at additional venues, including Faisalabad.
