The Pakistan Cricket Board (PCB) has invited bids for the sale of television broadcasting rights, internet video streaming rights and mobile telephony rights for the Pakistan Super League T20 tournament, to be launched from March 26 this year.
According to the advertisement published in leading newspapers, interested parties have been invited to submit bids for five year rights from 2013 to 2017.
The PCB has asked interested parties to submit technical and financial proposals separately by February 10.
The Board has already announced that five franchises will take part in the league with each franchise allowed to sign on 10 local players, two emerging players and six overseas players.
PCB sources said the Board planned to sell each franchise with a reserve price of 20 lakh dollars while players will be hired in three categories diamond, platinum and golden.
The players in the top category will have a base price of USD 100,000 in the players auction.
Sarwar Salman Butt,Â Managing Director of the league, said that bids for the sale of franchises would be invited in next few days.
"We plan to complete process of selling the franchises soon and will start with a reserve price of 20 lakh dollars," Butt said.
He also made it clear that discussions were ongoing with overseas players some of them notable ones.
"We are very hopeful we will be able to sign on some well known players despite reservations from some quarters."
Butt said that a total initial cost of USD 100 million dollars has been kept for the league for a five year period but this could increase with time.