Investors from Pakistan, USA, Australia, Canada, and UAE compete in high-stakes auction
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Web Desk
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LAHORE: The Pakistan Cricket Board (PCB) is all set to usher in a new era of the Pakistan Super League (PSL) as it received a remarkable 12 bids for the two new franchises, meeting the official submission deadline, the board confirmed on Wednesday.
In an official statement, the PCB hailed the response as “exceptional and encouraging,” underlining the global allure of Pakistan’s marquee cricket league.
Investors from Pakistan, the United States, Australia, Canada, and the United Arab Emirates threw their hats into the ring, showcasing how the PSL has transformed from a national tournament into a global sporting phenomenon.
The next chapter of this high-stakes journey will begin on December 27, when the PCB announces the results of the first phase, revealing which bidders are technically qualified to advance.
Those selected will then compete in a transparent open auction, scheduled for January 8 at the Islamabad Convention Centre, to secure the two coveted franchises.
“The initial results will be announced on December 27. Qualified bidders will then have the chance to purchase the new teams through an open auction,” the PCB said. “We are committed to maintaining transparency and adhering to international standards, ensuring the continued growth and expansion of the PSL.”
The PSL, which began in 2016 with five franchises and expanded to six in 2018, is now set to undergo its first major transformation in seven years.
With the addition of these two new teams for the 11th edition, the league will rise to eight franchises, promising more excitement, fierce competition, and a new era of cricketing spectacle that fans across the globe will eagerly follow.
