PCB Announces PSL Expansion with Two New Franchises

The Pakistan Cricket Board announced plans to expand the Pakistan Super League by adding two new franchises, with an auction set for January 8 in Islamabad where each team will carry an annual fee of 1.3 billion Pakistani rupees. The move, aimed at bolstering the league's financial stability and global appeal, has drawn bids from 12 parties, including five overseas groups from the United States, Australia, Canada, the United Arab Emirates, and Pakistan.

The expansion comes amid efforts to address concerns over the league's revenue model, particularly after the recent relinquishment of ownership by the Multan Sultans' previous holders due to disputes with the board over financial disparities. Those former owners, led by Ali Tareen, have submitted initial bid documents for the new teams. No decision has been made on Multan Sultans' future ownership, though speculation suggests the PCB may operate the franchise itself for the upcoming 11th edition, starting March 26, 2026.

To attract investors, the PCB conducted roadshows in London and New York earlier this month, emphasizing the league's growth potential. Bidding interest surged after the deadline was extended to December 24, with...