LAHORE, DEC 27: The Pakistan Cricket Board (PCB) on Saturday announced that its Bid Committee has completed the technical evaluation process of bids submitted by the parties interested in acquiring the ownership rights of the two new Pakistan Super League (PSL) franchises.
According to the cricket board, the committee “thoroughly” evaluated the proposals made by 12 parties from five different continents, and after a three-day-long scrutiny, shortlisted 10 bidders, who were found to have met the technical criteria and qualified for the second stage.
“The PCB Bid Committee has successfully completed the Technical Evaluation of proposals submitted by bidders for the sale of two new HBL PSL franchise teams,” the cricket board said in a statement.
“A total of 12 proposals were received from interested parties within the stipulated deadline from across the globe and were scrutinised by the PCB Bid Committee over the last three days.
“Following a thorough and transparent evaluation process, the PCB Bid Committee has qualified 10 Bidders who have successfully met the technical criteria and now enter the second stage.”
After being shortlisted, the 10 technically qualified bidders will now participate in the Auction, scheduled to be held at the Jinnah Convention Centre in Islamabad on January 8, and will have the right to choose their franchise team names from six shortlisted cities – Hyderabad, Muzaffarabad, Sialkot, Faisalabad, Gilgit and Rawalpindi.
It is pertinent to mention that the PSL, which began in 2016 with five franchises and later expanded to six sides in 2018, is set for further expansion with the addition of two new teams from its upcoming 11th edition, set to be played next year.
With the upcoming additions, the PSL will undergo its first major restructuring in seven years, bringing the total number of franchises to eight.
