The Pakistan Cricket Board (PCB) is preparing to introduce two new franchises for the upcoming PSL 11, and the new PSL teams price has reportedly been set at around Rs. 1.25 billion. Sources indicate that the reserve price could even exceed this amount as interest from both domestic and international investors grows.
New PSL Teams Price: Bidding Details and Interested Parties
Major companies from Pakistan, including five firms with backgrounds in real estate and solar energy, have expressed interest, alongside investors from the U.S., U.K., and other European countries. This is the kind of bid that is likely to give the league a competitive advantage and a wider global reach of PSL.
These new teams are likely to be settled on by the PCB in January once the technical proposals have been checked and this has to be submitted before December 15. Only qualified bidders will pass to the second stage of the process.
Ali Tareen, the owner of Multan Sultans, has also said that he will leave the league in related news. Although the PCB has not made any formal statement, political leaders are reportedly trying to strike a compromise.
If Tareen reverses his decision, the situation could be resolved, preserving the rights to the “Multan Sultans” brand. The team’s previous annual fee of Rs. 1.08 billion may rise to Rs. 1.3 billion following a 25% increase, contributing to the owners’ hesitation.
Interestingly, one of the companies bidding for a new franchise has a prominent name starting with “T,” followed by “Group of Companies.” With the new PSL team’s price now public, anticipation is building as PSL 11 prepares to welcome its new franchises and strengthen Pakistan’s premier T20 league.
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