The Pakistan Super League (PSL) is a professional Twenty20 cricket league in Pakistan composed of 5 member clubs. Headquartered in Lahore, the PSL is considered to become the premier professional cricket league in Pakistan. The league is composed of 5 teams and the PSL regular season runs through the month of February, with each team playing 8 games; the top 4 teams with the best record will qualify for the post season (or playoffs), culminating in the championship game, the PSL Cup. Instead of operating as an association of independently owned teams, the PSL is a single entity in which each team (or franchise) is owned and controlled by the league's investors; the investor-operators control their teams as owners. The early commercial rights of franchises were sold for Rs 985 Crores ($93 million) for a span of 10 years in December 2015
Teams
According to Initial reports, around 20 parties shown interest in buying franchises. Shoaib Akhtar the former Pakistan fast bowler has expressed his interest in owning a franchise. Haier, represented by Javed Afridi, the CEO in Pakistan, has also shown interest in owning a franchise. On October 18, 2015 PCB offered tenders for bidding the franchises. According to statement by PCB, the bid winners will be granted right of each franchise for a term of 10 years.[6] The interested parties had to apply for bidding before November 15.[7] According to a press release, the interested bidding parties include ARY Media Group, Omar Associates, Arif Habib Group, Haier, Mobilink as well as two foreign groups including Venture Capital of UAE and Qatar Lubricants Company (QALCO).
All the 5 franchises for the PSL were sold on December 3, 2015. Several companies bought the bidding documents, but only seven presented formal proposals, which also included companies from the Middle East
After 5 To 10 Years Najam Sethi Said That 5 New Teams Will Participate In Tournament. Following New Teams Will Be Participating: Sialkot, Rawalpindi, Faisalabad, Multan & Hyderabad.
The early commercial rights of franchises were sold out for US$93 million for the span of 10 years in December 2015.The PSL's title sponsorship goes to Pakistan's Primary bank Habib Bank Limited.Karachi became the most expensive team with the ARY Group shelling out $26 million to gain ownership.
ARY Group purchased Karachi Kings for $26 million
Qatar Oil purchased Lahore Qalandars for $25 million
Leonine Global Sports purchased Islamabad United for $15 million
Haier purchased Peshawar Zalmi for $16 million
Omar Associates purchased Quetta Gladiators for $11 million
