How PSL Became a Billion Rupee League?

It feels like it happened just yesterday, but you’ll have to believe that the Pakistan Super League has now completed 10 years. Over these years, PSL has faced challenges, endured difficulties, and overcome many hurdles and today, it stands strong, with investors eagerly waiting to grab its two new teams.

Early Attempts to Launch the League

In 2007, alongside the Indian Cricket League (ICL) and the Indian Premier League (IPL), preparations also began to launch the Pakistan Super League. At that time, Naseem Ashraf was the Chairman of the PCB. However, the idea couldn’t progress much further.

Leadership Changes and Setbacks

In 2008, when General Pervez Musharraf retired, Naseem Ashraf also stepped down as PCB Chairman. The PCB’s reserves dropped from $42 million to $19 million, leading the new Chairman, Ijaz Butt, to shelve the project. Later, Zaka Ashraf revived the idea, saying:

“I strongly support this project because it will greatly benefit Pakistan cricket. The day isn’t far when the entire PSL will be held in Pakistan in Lahore, Multan, Faisalabad, Karachi, Hyderabad, and Quetta.”

Postponements and Challenges

Due to the 2013 general elections, the league was paused once again. It seemed like everything had ended. During Zaka Ashraf’s tenure, there was even a proposal to host the league in Dubai, but the PCB Chairman at the time insisted it be held only in Pakistan.

Najam Sethi Revives the PSL

Subsequently, under the leadership of Najam Sethi, a member of the PCB Executive Committee, work on the project resumed. The Nawaz Sharif government dismissed Zaka Ashraf, and PSL’s first season was finally organized.

First PSL Teams and Franchise Prices

For PSL 1, five teams were selected. These include Karachi, Lahore, Peshawar, Quetta, and Islamabad. All five franchises were sold for a total of $93 million.

Venue Issues Before PSL 1

When almost everything was finalized, a new issue arose with the venue. Around the same time, the Champions League T20 schedule was released, causing a clash. Qatar was briefly considered, but due to the availability of only one stadium, the idea was dropped. Later, discussions resumed with the Emirates Cricket Board, and finally, the first edition of the PSL was held in the UAE.

Early Challenges and Franchise Patience

The first two seasons faced many challenges from a lack of sponsors to financial losses but as time passed, things began to improve. The franchise owners showed remarkable patience despite early losses.

Expansion with Multan Sultans

In the third season, the number of teams increased to six, with Multan Sultans joining the league for $6.3 million. Najam Sethi fixed the dollar rate at ₨170 per dollar due to currency fluctuations.

PSL’s Growth and Return to Pakistan

Gradually, the league shifted to Pakistan, and fans filled the stadiums, giving PSL not only financial stability but also transforming it into a powerful sports brand.

Two New Teams in PSL 11

Now, ten years later, the Pakistan Super League is expanding again with two new teams to be added through open bidding. Whoever bids the highest will become the new franchise owner. The PCB will offer several city and team name options, and bidders will be able to choose from them.

Contract Renewals and Future Plans

Thus, the total number of teams in PSL 11 will increase to eight. The old franchises’ contracts have expired, and after re-evaluation, they’ll sign new agreements. For the next five years, the league will remain an eight-team competition, after which one or two more teams may be added.

“It will be optional but we’re seeing immense interest from potential buyers,” said PCB officials. “We’ll provide a pool of city names, and the bidders will select from them.”

Expansion to Six Stadiums and Women’s PSL

By PSL 11, the league, which first came to Pakistan in 2017, will expand to six stadiums, as the PCB has decided to host matches in six different cities. Within the next two to three years, PSL will expand to eight venues, and after that, the women’s matches will officially begin as well.