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LAHORE: The Pakistan Cricket Board on Wednesday announced that it had received an encouraging response to the tender issued for the sale of two new franchises in the Pakistan Super League (PSL).
According to the board, it has received an overwhelming response from 12 parties within the stipulated deadline.
“The Pakistan Cricket Board (PCB) has announced an exceptional and encouraging response to the tender issued for the sale of two new franchises of the Pakistan Super League (PSL). Within the stipulated deadline, 12 parties have formally submitted their bids,” the board said in a press release.
“These bidders belong to five continents, including the United States, Australia, Canada, the United Arab Emirates (UAE), and Pakistan, which clearly reflects the PSL’s growing global popularity and commercial appeal,” it added.
As per the board, the outcome of this particular phase of the bidding process will be revealed on 27 December, while technically qualified bidders will be given a chance to purchase the two new teams through an open competition bidding process.
The open competition bidding will be held on 8 January at the Islamabad Convention Centre.
Earlier, the bid deadline previously set for December 22 was extended to December 24 for the second time due to the two bank holidays and at the request of the bidding parties.
For the unversed, the Pakistan Super League, which began in 2016 with five outfits, is set to expand with the addition of two new teams.
Notably, the league expanded to five teams in 2018 with the addition of Multan Sultans.
With the addition of two new teams, the league will undergo its first major restructuring in seven years, taking the total to eight teams.
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