Finalizing the preparations for the new 10-year cycle of the Pakistan Super League (PSL) franchises has reached the last stage. With the Pakistan Cricket Board (PCB) stating that in the upcoming contracts only “eligible franchises” will be part of the contracts. This has led to a lot of speculation in the cricketing circles regarding ownership changes for the league’s upcoming decade.
During a presentation, the new PCB chairman, Mohsin Naqvi, gave instructions to the concerned officials to engage with all franchise owners and complete the new contracts “at the earliest.” This will be the end of the 6 franchise contracts for the PSL, which officially ends its first decade cycle in December. The franchise began in 2015.
In a significant first, the PSL will be increasing its franchises from six to eight. Additionally for the first time independent valuation of the new franchises will be done by EY MENA. This will also bring transparency in the validation process.
The term “eligible franchises” raised questions, especially with the current situation between the PCB and Multan Sultans. Ali Tareen’s franchise has had legal complaints over contract violations. It has been stated that Tareen’s ownership could be at risk, even if he renegotiates at the new terms.
The new model approach has directed all six existing teams to pay 25% of the new valuation fee as a mark up to retain their rights for the next 10 years. This could allow new PSL investors since the ownership structure could be vastly different.
As the league puts new teams, new contracts, and new compliance structures in place. It prepares for the largest restructuring in its history. It presents new opportunities for growth and international competition.
However, as it stands, it seems PSL 2.0 will begin with a host of unresolved issues.
