Auction to be held for two new PSL franchises: CEO

Pakistan Super League (PSL) Chief Executive Officer (CEO) Salman Naseer has announced that an auction will be held for the induction of two new franchises in the tournament’s 11th edition.

Speaking at a press conference at the National Bank Stadium on Wednesday, Naseer said: “An auction will be conducted for two new PSL franchises, and interested bidders will be given a list of city names to choose from for their teams.”

He further explained that existing franchise owners will have the right to match the valuation of the new teams in order to retain ownership of their current franchises.

"With the revaluation of the existing six PSL franchises nearing completion, current team owners will have the right to match the new valuations to retain ownership or opt out," Naseer added.

He said that under their existing agreements, the team owners will have the first right of renewal for the next 10 editions based on that valuation.

"After that, if any franchise chooses not to renew, those team rights will be offered through an open process, allowing new investors to participate under the updated structure.”

Responding to a query on Multan Sultans owner Ali Tareen, who recently criticised the Pakistan Cricket Board (PCB) and tore up the legal notice he received from the board, Naseer said that PSL-related issues should be resolved “behind closed doors,”.

“You want me to do the same thing they’re doing, to tarnish the reputation of this league. I can’t do that. If this matter is to be discussed, it will be done in the boardroom, legally, and if it’s to be resolved, it will happen behind closed doors. Saying anything more would only add fuel to the fire,” Naseer said while responding to a question.

In an uploaded viral video, Tareen had openly lashed out at the PCB "over a mediocre mindset”. A few days after the video was posted on X, the Multan Sultans owner proposed key reforms aimed at improving the league’s governance, transparency, and long-term sustainability.

In a detailed statement, the franchise acknowledged recent tensions with the cricket board but offered rebuilding trust and putting a professional system in place to elevate the tournament.