PCB will decide on two new PSL franchises in January

KARACHI:

It is expected that the reserve price for a new PSL franchise will be set at around 1.25 billion rupees.

According to details, the decision on the two new PSL franchises will be made in January, and an initial tender has already been released.

Sources say that the reserve price will be set above 1.25 billion rupees, and several domestic and international companies have expressed interest.

From Pakistan, five major parties have come forward, including real estate and solar energy firms, both of which have a history of sponsoring Pakistani cricket. Two businessmen from the United States are also interested in buying a team, while investors from the United Kingdom and another European country will also take part in the bidding.

The deadline for submitting technical proposals is December 15, and only qualified bidders will advance to the next stage.

On the other hand, Multan Sultans owner Ali Tareen has already bid farewell to the league, though the PCB has not yet issued any official statement on the matter. Sources indicate that some political figures are still trying to mediate the situation. If Ali Tareen retracts his previous statements, the matter could be resolved.

Previously, the Multan Sultans franchise had to pay an annual fee of 1.08 billion rupees, which could rise to 1.3 billion rupees after a 25% increase. According to some circles, this financial burden is one of the reasons the current owners may not wish to retain the team.

If Ali Tareen loses ownership, the use of the “Multan Sultans” name may also no longer be guaranteed. It remains unclear whether existing team owners will be eligible to participate in the re-bidding. Interestingly, one of the companies bidding for the new franchise has a noteworthy name, beginning with the letter “T”, followed by “Group of Companies.”