WEB DESK: 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.
Congrats! PSL is coming! 5 teams sold to top hats for $93m. Ptv/Ten Sports to broadcast. Top gun cricketers draft in Dec. All systems go!
— Najam Sethi (@najamsethi) December 3, 2015
The PSL will be a month-long tournament. It will begin on February 4 featuring sides from Pakistan’s provincial capitals – Lahore, Karachi, Peshawar, Quetta and Islamabad.
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 finalized for the next three years.
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.
Source: ESPN cricinfo