Pakistan Super League (PSL) Chief Executive Officer Salman Naseer has announced that an auction will be held for two new PSL franchises as the league prepares for expansion.
Speaking at a press conference in Karachi, Salman Naseer said that when the league was launched, interest was limited, but five parties placed their trust in the PCB and purchased teams. He added that despite attempts by some elements to discredit the league, the PSL continued to grow stronger over the years.
He stated that the first 10-year cycle of PSL agreements has now ended, and as decided earlier, a re-evaluation was conducted after the 10th edition to assess the league’s market value.
The CEO confirmed that an auction will be held for two new PSL franchises. Interested bidders will be given a pool of city names from which they will choose their preferred team.
Salman Naseer also announced that HBL will remain the title sponsor of the PSL for the next two years. He said that HBL has signed the new agreement at a valuation determined through an independent market assessment, which reflects a 50% increase compared to the previous sponsorship deal.
