Pakistan news December 3, 2015

PCB sells five PSL teams for $93m

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The Pakistan Cricket Board has sold all five Pakistan Super League (PSL) franchises for $93 million for a ten-year period. Karachi became the most expensive team with the ARY Group shelling out $26 million to gain ownership. There were seven bidders in the shortlist for the open bidding. Among those to miss out were Pakistan's largest telecom company Mobilink and another popular name Arif Habib Group.

The PSL will be a month-long affair, beginning on February 4 and will feature sides from Pakistan's provincial capitals - Lahore, Karachi, Peshawar, Quetta and Islamabad. A total of 24 matches are scheduled and although finding stakeholders has taken some time, the PCB has managed to secure the interests of renowned business in Pakistan and even abroad.

The PSL's title sponsorship goes to Habib Bank Limited, while Ten Sports and PTV Sports become the official broadcasters. Global television rights have been given to Tech Front, a UAE-based media rights acquisition company. Sunset and Vine will be in charge of producing the coverage. The broadcast arrangements have been finalised for the next three years.

The top two bidders, ARY Group and Qatar Oil have not had much connection with cricket so far but they will now own the two most popular teams in the country - Karachi and Lahore, sold for $25 million.

Haier Group, a consumer electronics and home appliances company, paid $16 million for Peshawar. The franchise from the capital, Islamabad, went to Leonine Global Sports, which is an entity created specifically for the PSL by a group of Pakistani investors, for $15 million. Omar Associate, a Karachi-based building company, secured Quetta for $11 million.

"I am delighted with these positive developments and this is a major achievement in our PSL journey," Najam Sethi, chairman of the PSL Governing Council, said after the bidding was complete. "The best part is that all team owners are ardent cricket fans and their dedication will make this league a success. HBL's association with PSL is another indication of established brands partnering with the league"

At least 80 percent of the revenue from the broadcast rights will be split equally among the five PSL franchises. The remaining 20 percent will go to the PCB. Similarly at least 50 percent of the revenue from the sponsorship rights will be shared among the franchises and the PCB will utilise the other 50 percent.

The franchises will also have access to 50 percent of the ticket sales at the gate. Interestingly, tournaments like IPL, and BPL give their franchises 100% of the revenue collected at the gate. But for PSL, that chunk is only 50% because PCB is bearing the cost of the venue in UAE with Pakistan forced to play their home games away from home.

Over 100 players and 10 coaches have signed up for the PSL. The final step, which is setting up the draft process, will take place later this month.

Umar Farooq is ESPNcricinfo's Pakistan correspondent. @kalson

Comments have now been closed for this article

  • Muneeba Saleem on December 10, 2015, 12:47 GMT

    Great success for pakistan!!hope to have a block buster PSL!! wish PSL the best..

  • Neo on December 7, 2015, 19:39 GMT

    @ nikhil purohit, When it started, all BPL franchises fetch low prices $6.49 million, read this cricinfo article before comparing & ridiculing PSL.

    http://www.espncricinfo.com/bangladesh-domestic-2011/content/story/548861.html

  • Nadefr5020842 on December 7, 2015, 13:58 GMT

    @assertive Maybe your asserting tactics are getting the best of your judgement as you seem to be missing key information. India was offered to play in UAE, and SL. SA, NZ, SL, ENG were all played with in UAE. Assert yourself properly son, you seem to be losing a sense of reality.

  •   Abhishek Nair on December 6, 2015, 13:51 GMT

    First of all, I would like to wish PSL all success in the future. But I dont support any participation by any Indian in this tournament or any tournament featuring Pakistan. Nothing and I mean nothing can outweigh the blood and lives that have been given by our Indian Armed forces to protect our Motherland, we need to respect their sacrifices and honor them by what they stand for. Simple as that. No offence Pakistan. But I will put my country and our soldiers first.

  •   Saad Ramay on December 6, 2015, 11:01 GMT

    @assertiveindian. Man you know it very well that except zimbabwe, no other team agrees to play here. Players don't agree, that's the only reason. I hope after 1 or 2 season it would be held in Pakistan. Then it will be a blockbuster.

  • Raman on December 6, 2015, 9:34 GMT

    Remarkable thing is that while PCB expect all the teams in the world to play in Pakistan, but when it holds it premiere league, it is not in Pakistan! So what does it say about security situation in Pakistan?

  • Nish on December 5, 2015, 17:31 GMT

    Best wishes to the PSL from an Indian fan & hope it'll be a resounding success in years to come. Thanks to those Pakistani fans who wish to see Indian players participating in this new league - which will be as great as seeing Pakistani stars back in the IPL fold. As fans on both sides, lets hope this really happens as well as the resumption of matches & the great rivalry between our respective national teams.

  • Nadefr5020842 on December 5, 2015, 16:40 GMT

    @pomp this isn't slc or bpl the Pakistanis have never had any questions raised about the principles of getting paid on time

  • Mohammad on December 5, 2015, 16:19 GMT

    I wish the success of tournament will induce the organisers to include the teams from Sialkot and Faisalabad. Further, i wish Quetta's team will feature some local players as well. it would have been great had PCB managed to avoid the date clash with MCL for the first year.

  • EDWARD on December 5, 2015, 14:11 GMT

    advice to any foreign players looking to play in this league.. make sure you get paid up front.

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