Cricket

PSL 2016: All five teams sold, Karachi is the most expensive team

Five franchises for the inaugural edition of Pakistan Super League (PSL) has been sold out in the auction at Pakistan Cricket Board (PCB) headquarters in Lahore. Karachi has been the most expensive team as ARY Media Group has won the bid for $2.6 million. The second most expensive team is Lahore, which is bought by Qatar Premier Oil Company for $2.4 million while UAE Captial Venture purchased Islamabad for $1.5M Haier purchased Peshawar for $1.6M and Omar Associates purchased Quetta for $1.1. The name of the teams yet to be chosen. 

The tournament will be played in UAE from February 4 to 24 next year (2016). The players draft will be held on December 21 and 22.Ten Sports and PTV get the broadcasting rights of the PSL. Sunset and Vine have the production rights. HBL will sponsor the whole tournament.

Meanwhile, the coaches of the PSL teams will be named, through a draft, in the next 10 days. Players draft will be decided by lottery. Earlier it was known that the most expensive team will start the draft.  

“We’re happy that seven credible companies with clean and strong backgrounds have participated in the bidding war of PSL franchises,” a PSL official told The Express Tribune.

Earlier total seven bids were accepted by PSL Governing Council.

“What’s heartening for us is the fact that out of the seven, six parties have submitted bids for all five franchises while only Arif Habib Group has submitted a bid for Karachi. So this shows that people are keen on what PSL has to offer,” added the official.

The companies which were in the race of bid were ARY Media Group, Omar Associates, Arif Habib Group, Haier, Mobilink as well as two foreign companies: UAE’s Venture Capital and Qatar’s Premier Oil Company (QALCO).

“We’re happy that seven credible companies with clean and strong backgrounds have participated in the bidding war of PSL franchises,” a PSL official told The Express Tribune.

 “What’s heartening for us is the fact that out of the seven, six parties have submitted bids for all five franchises while only Arif Habib Group has submitted a bid for Karachi. So this shows that people are keen on what PSL has to offer,” added the official.

The PSL is scheduled to be staged in Dubai and Sharjah with the likes of Chris Gayle, Kevin Pietersen, Kieron Pollard, Shane Watson, Lasith Malinga, Dwayne Bravo, Angelo Mathews and others in attendance.

Here is the table of teams and owners and value 

Company

City

Value

ARY Media Group

Karachi

$2.6 million

Qatar Premier Oil Company

Lahore

$2.4 million

Haier

Peshwar

$1.6 million

UAE Capital Venture

Islamabad

$1.5 million

Omar Associates

Quetta

$1.1 million

 

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