Pakistan says 12 parties have filed bids for two new PSL franchises

ISLAMABAD: The Pakistan Cricket Board (PCB) announced on Wednesday that it has received bids from 12 interested parties for two new franchises of the Pakistan Super League (PSL) tournament, saying the development reflects the league’s commercial appeal.

The 11th edition of this year’s PSL will be held from Mar. 26 to May 11, with the PCB announcing that two new teams will be part of the tournament this time.

Pakistan held roadshows earlier this month in London and New York to invite investors from around the world to bid for the two new franchises. The PCB allowed interested parties to bid for the new franchises till Dec. 22.

“The Pakistan Cricket Board has announced an exceptional and encouraging response to the tender issued for the sale of two new franchises of the HBL Pakistan Super League (PSL),” the PCB said in a statement.

“Within the stipulated deadline, 12 parties have formally submitted their bids.”