PSL planned for expansion with hefty price tags for new teams in 2026

HBL Pakistan Super League (PSL) is set to expand in 2026, with two new teams expected to fetch between $7 million and $10 million each, as the Pakistan Cricket Board (PCB) seeks to capitalise on the league’s growing value, Express News reported on Sunday.

The league currently comprises six franchises under a 10-year agreement, which is set for renewal after the upcoming 10th season.

The PCB is preparing to revise franchise fees, allowing existing team owners to either retain their rights or opt out. However, all current franchises have indicated their intent to continue.

To determine the revised franchise fees, an independent audit firm will assess the league’s valuation. The PCB had previously fixed the exchange rate at Rs170 per dollar for team payments, but with the rupee depreciating to Rs282 per dollar, a significant fee adjustment is expected.

Multan Sultans, the most expensive team, currently pays Rs1.08 billion ($6.3 million) annually, while other franchises were sold at varying rates, ranging from $1.1 million to $2.6 million. With the addition of two new teams, the PCB anticipates selling each for up to Rs 2.5 billion ($10 million).

Several entities have shown interest in acquiring a franchise, including a major corporate player in Pakistan and a Grade Two cricket institution. Additionally, PCB officials recently met potential investors in the United States and the United Kingdom.

Despite the excitement surrounding expansion, existing franchise owners fear a reduction in their central revenue share. Currently, all teams receive an equal share from the league’s central revenue pool, regardless of their franchise fees.

The PCB, however, has assured them that upcoming sponsorship and broadcasting deals will increase overall revenues.

Some analysts question the financial viability of new franchises, citing past struggles faced by team owners. Multan Sultans, for example, incurred heavy losses despite paying a relatively lower fee.

In 2018, its previous owner, Schon Group, backed out due to financial difficulties. Experts suggest that the PCB should prioritise financially robust buyers to avoid similar issues.

With growing investor interest and a lucrative broadcasting market, the PCB aims to finalise the expansion process well before the 11th PSL season in 2026.