Salman Naseer confirms auction for two new PSL teams

Pakistan Super League (PSL) Chief Executive Officer Salman Naseer has announced that two new franchises will be added to the league through an upcoming auction process.

Speaking at a press conference in Karachi, Naseer said that when the league was launched, public interest was limited, but five parties placed their trust in the Pakistan Cricket Board (PCB) and purchased teams. “There were attempts to discredit the league, but it continued to progress and establish itself successfully,” he said.

He added that all existing PSL franchise agreements have completed their 10-year term, and it was earlier decided that the league’s valuation would be reassessed after the tenth edition.

Naseer confirmed that an auction will soon be held for the two new franchises. “The bidding parties will be given a pool of city names, from which they will select one for their team,” he explained.

The PSL CEO also announced that Habib Bank Limited (HBL) will remain the league’s title sponsor for the next two years. He noted that the new sponsorship deal was signed based on an independent valuation and represents a 505% increase compared to the previous agreement.