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LAHORE: The Pakistan Cricket Board (PCB) has finalized two new teams for the upcoming edition of the Pakistan Super League (PSL), sources said on Wednesday.
According to the sources, the two new teams will reportedly be named Gilgit and Faisalabad.
A few days earlier, PCB had shortlisted six cities for the two new teams, which included Hyderabad, Sialkot, Muzaffarabad, Faisalabad, Gilgit, and Rawalpindi.
The development came alongside the PCB’s completion of the long-awaited independent valuation process for all existing PSL franchises and key commercial assets.
Meanwhile, PSL management issues with Multan Sultans remain unresolved. Sources privy to the matter further reveal that Sultan’s franchise ownership is also likely to be put up for bid to find new owners.
The tender process for the sale of the new franchises is expected to begin soon, adding momentum to what is poised to be one of the most significant structural upgrades in the league’s history.
The confirmation aligns with what PSL CEO Salman Naseer stated earlier in October during a press conference at the National Bank Stadium, where he revealed that an auction would be held for the two new teams.
“An auction will be held for two new PSL franchises, and bidding parties will be given a pool of city names from which they can select,” he said.
He also credited all franchises for playing a vital role in strengthening the PSL brand, noting that the league has survived “testing circumstances, including times of political and regional instability.”
“I think from our side, as management and even the other stakeholders, including franchises, everyone wants to expand our footprint beyond these four cities,” he said.
“Peshawar Stadium’s lease matters are being worked out, and both venues are part of our long-term planning.”
