By Staff Reporter
LAHORE: The Pakistan Cricket Board said Wednesday it had received an “exceptional and encouraging” response to its tender for two new franchises in the Pakistan Super League, with 12 parties submitting bids by the extended deadline.
The bids came after the PCB extended the deadline multiple times, first from December 15 to December 22, and then to December 24, following strong interest from investors in Europe, the United States, the Middle East and elsewhere, sparked by promotional roadshows in London and New York.
The move paves the way for the league’s expansion to eight teams starting in the 2026 season, the first major overhaul since Multan Sultans joined in 2018 to bring the total to six franchises. Bidders hail from five countries — the United States, Australia, Canada, the United Arab Emirates and Pakistan — highlighting the PSL’s increasing global reach and commercial draw, the PCB said.
Pakistan-based solar power company Inverex Power Solution, a longtime PSL sponsor, confirmed Wednesday it was among those bidding for one of the new franchises. Reports indicate other interested parties include telecom companies, real estate groups and consortia involving US-based Pakistani businessmen.
The PCB said it would announce the results of the initial bidding phase on December 27, after which qualified bidders meeting technical criteria would be invited to an open competitive bidding round for the two new teams. That session is set for January 8 at the Islamabad Convention Centre.
The board stressed its dedication to a transparent and competitive process aligned with international standards, aimed at fostering the PSL’s ongoing expansion and long-term viability. The expansion follows the end of the original 10-year franchise deals after the 2025 edition, with five of the six existing teams, Islamabad United, Karachi Kings, Lahore Qalandars, Peshawar Zalmi and Quetta Gladiators, renewing under updated valuations by Ernst & Young. The status of Multan Sultans remains unsettled due to ongoing disputes.
Winning bidders for the new franchises will choose from a shortlist of cities including Hyderabad, Rawalpindi, Faisalabad, Gilgit, Muzaffarabad and Sialkot. The PSL’s 11th edition is slated for March 26 to May 3, 2026, overlapping with the Indian Premier League in an April-May slot intended to boost availability of overseas players. The tournament will adopt a revised format to fit eight teams into 39 days, with matches possibly extending to additional venues such as Faisalabad.
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