Karachi, Dec 27: The Pakistan Cricket Board (PCB) is seeking to sell each of its two new teams for the next phase of the Pakistan Super League (PSL) at an annual franchise fee of 1.3 billion Pakistani rupees, according to sources.
The PCB is scheduled to hold the final auction on January 8.
Interestingly, the former owners of the Multan Sultans, who relinquished ownership a few weeks ago following differences with the PCB, have submitted initial bid documents to participate in the final auction for the two new teams. However, there is no clarity yet on new owners for the Multan franchise, amid strong speculation that the PCB intends to manage the team itself for at least the 11th edition of the PSL, scheduled to begin on March 26 next year.
The PCB claims around 12 parties, including five from overseas, have submitted initial bid documents for the two new teams, though it is yet to release the final list of eligible bidders after conducting financial and technical due diligence. (PTI)
