The Pakistan Cricket Board (PCB) has extended the deadline for initial bids on the two new Pakistan Super League (PSL) franchises by an additional two days, now set for December 24, according to a reliable
source, marking the second such postponement amid efforts to bolster interest ahead of PSL 11 in 2026.
Initially slated for December 15, the deadline was first pushed to December 22 during a PSL roadshow in New York last week, where PCB chairman Mohsin Naqvi made the announcement to global investors.
"The last date for submitting initial bids is now extended by two days," the source confirmed, though no official PCB statement has been released yet. This comes as the board eyes a final auction on January 6 for the expansion teams, with only shortlisted bidders advancing after technical scrutiny.
While PCB hasn't specified causes, insiders point to underwhelming technical bids so far, prompting the delay. The league's growth strategy includes these new franchises to expand from eight to ten teams, targeting a minimum base price of around $7-10 million each based on prior sales like Quetta Gladiators ($2.1 million in 2015) and Islamabad United.
Recent roadshows in London and New York-fueled by social media buzz-aimed to lure international investors, including consortiums from the Gulf and North America, over local buyers to match PSL's rising valuation (franchises now worth $50-100 million amid broadcast deals exceeding PKR 6 billion for recent seasons).
Adding intrigue, the PCB remains silent on Multan Sultans' fate after owner Ali Tareen's exit due to a payment dispute and code-of-conduct issues. The source indicated the board may operate the Sultans in-house for the new Pakistan Super League season, leveraging their 2021 title-winning pedigree and strong fanbase, before re-auctioning rights for a fresh nine-year cycle ahead of PSL 12.
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