ISLAMABAD: The Pakistan Cricket Board (PCB) will hold a live auction for two new teams of the Pakistan Super League (PSL) 11 edition today, Thursday, as the country’s premier T20 cricket league eyes expansion.
Pakistan will hold the 11th edition of the PSL from Mar. 26 to May 3, with two new franchises set to debut. The PSL is Pakistan’s premier T20 cricket league which features six teams with a mix of local and international players. This year, the board is set to introduce two new teams to the league.
The PCB held roadshows in New York and London last month to attract investors to buy the new franchises and invited interested parties to bid for the teams. It qualified 10 bidders for the auction, which is set to be held at Islamabad’s Jinnah Convention Center.
“The bidders include a diverse pool of businesses ranging from areas like agrobusiness, telecommunication, real estate, a software company from the United States and Tech companies from Pakistan and abroad,” the PCB said in a statement on Wednesday.
The bidders include telco giant Jazz, renewable energy company Inverex, mobile phone brand VGO TEL, real estate group OZ Developers, global fintech company i2c, real estate company Prism Developers, Walee Technologies, Aim Next Inc, FKS and Deharki Sugar Mills.
PCB said the ceremony will begin at 4:15 p.m. local time and live-streamed on the HBL PSL, PCB official YouTube Channels, Tapmad, Tamasha, Myco and PCB Live (UK Region).
“Renowned singer Rahat Fateh Ali Khan will also perform at the event following the conclusion of the bidding process,” the board said.
Bidders will have a chance to pick the names of the teams from a pool of cities shortlisted that includes Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi and Sialkot.
