ISLAMABAD: The Pakistan Cricket Board (PCB) has completed the financial model and structural framework for the induction of two additional teams in the Pakistan Super League (PSL) starting from its 11th edition, sources said.
As per sources, investors from Pakistan, the United Kingdom and the United States have expressed interest in acquiring the new franchises.
The PCB will decide the owners of the seventh and eighth teams through an auction scheduled for January 8.
“Each new franchise has been guaranteed a minimum of Rs850 million over the first five editions. If the central pool share falls short, the PCB will cover the difference”, sources said.
The new teams will be entitled to up to 95 per cent of central income, similar to existing franchises. PCB sources said that if central licensing revenue declines, the board will bear the financial responsibility.
Only city names approved by the PCB will be allowed for team branding.
Any proposal to use a city name other than those already announced will require board approval and a fee of $1 million.
Franchises will not be permitted to use brand or company names as team names.
Sources added that the new franchises will be granted long-term ownership rights. Team names and logos will require mandatory approval from the PCB.
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