Pakistan Cricket Board (PCB) has given new pace to the upcoming Pakistan Super League as 7 companies bid to buy PSL T20 franchises. These includ companies from Pakistan and abroad. The rights for five franchises – Karachi, Lahore, Peshawar, Islamabad and Quetta, are being given away for a period of 10 years.
Initially, a number of companies filled the form to buy franchise rights but Express News reports only 7 have actually shown interest to buy the rights.
The companies who are currently interested in buying franchise right for PSL T20 participated in the Pakistan Super League bidding process that took place at PCB headquarter in Lahore, Pakistan.
Interested Bidders for PSL T20 Franchises
ARY Media Group (Pakistan)
Omar Associates (Pakistan)
Arif Habib Group (Pakistan)
UAE’s Venture Capital (UAE)
Qatar’s Premier Oil Company (UAE)
Talking to Express Tribue, a PCB official said:
“We’re happy that seven credible companies with clean and strong backgrounds have participated in the bidding war of PSL franchises”.
“What’s heartening for us is the fact that out of the seven, six parties have submitted bids for all five franchises while only Arif Habib Group has submitted a bid for Karachi. So this shows that people are keen on what PSL has to offer”.
The PSL governing body will later award the franchises if the price criteria is met by the bidders. If the reserved price is not met, there will be an auction and subsequently the franchises will be awarded to the highest bidder.
Pakistan Super League – PSL T20 could not be materialized despite its initial speculations some 5 years ago. Finally this year, Pakistan Cricket Board (PCB) has decided to organize the event from 4th to 24th February, 2016, in United Arab Emirates.