Pakistan Sell Five Twenty20 League Franchises for USD 93 Million
The inaugural Pakistan Super League will be organised in the United Arab Emirates cities of Dubai and Sharjah from February 4-23.
The Pakistan Cricket Board (PCB) has sold five franchise rights for its new Twenty20 league for USD 93 million for a period of 10 years. (Indian Cricket Stars to Play in Pakistan Super League?)
Five companies bought the Karachi, Lahore, Peshawar, Islamabad, and Quetta teams. (Pakistan Super League: Glitz, Glamour and Promises of IPL-Style Cricket)
ARY Group, a media company, made the highest bid of an undisclosed amount for Karachi.
"The best part is that all the team owners are ardent cricket fans and their dedication will make this league a success," said Najam Sethi, chairman of the Pakistan Super League.
The inaugural Pakistan Super League will be organised in the United Arab Emirates cities of Dubai and Sharjah from February 4-23. By playing out of Pakistan, the PCB hopes to attract top foreign players and coaches.
Sethi said coaches will be chosen over the next 10 days, and players' draft will be held later this month.