The PSL currently has six teams, but the PCB has long shown its ambition to grow the tournament. The upcoming expansion is part of a broader strategy to stabilize franchise revenues and increase the league’s commercial appeal. The push comes at a time when questions have been raised over the PSL’s financial model, especially after the recent departure of Multan Sultans’ former owners following disagreements with the board.
Despite these concerns, interest in the new franchises appears to be high. The PCB has confirmed that around 12 parties have submitted initial offering documents, including five overseas groups. To expand its global reach, the board recently held PSL roadshows in London and New York, with a focus on showcasing the league to foreign investors.
According to sources, the PCB is looking to sell each of the two new franchises for a fixed annual fee of INR 1.3 billion for the next phase of the PSL. Before finalizing the bids, the board will conduct financial and technical due diligence, after which the eligible parties will be confirmed.
Former Multan Sultans owner returns to trial again
Notably, the former owners of Multan Sultans, who relinquished the franchise just weeks ago, have restarted the process by submitting initial documents to bid for the new teams. However, there is still no clarity regarding the future ownership of Multan Sultans. There is strong speculation that the PCB will run the franchise itself for at least the 11th edition of the PSL, which will begin on March 26 next year.
Meanwhile, each franchise is guaranteed a minimum payout of INR 850 million per season from the central revenue pool for the next five editions, starting with the eleventh season. If a team’s share falls below this threshold in any year, the PCB has committed to covering the shortfall.
Currently, franchise valuations vary widely. Quetta Gladiators are valued at INR 360 million, Peshawar Zalmi at INR 480 million, Islamabad United at INR 490 million, Karachi Kings at INR 650 million, Lahore Qalandars at INR 670 million and Multan Sultans at a significantly higher INR 1.8 billion. However, once the league expands to eight teams, all franchises will receive an equal share of the central revenue pool, regardless of their individual compensation. The PCB has also informed teams that they can spend up to $1.4 million on player purchases through the PSL draft.
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