Seven companies fight it out to buy PSL franchises


KARACHI: At least seven companies participated in the franchise bidding process of the Pakistan Super League (PSL) as technical bids of interested parties were opened at the Pakistan Cricket Board (PCB) headquarters on Wednesday in Lahore.

The rights of five franchises — Karachi, Lahore, Peshawar, Islamabad and Quetta — are on offer for a 10-year period.

Though a number of parties bought the bidding documents, but only seven presented formal proposals, which include companies from the Middle East as well.

It has been learnt that the companies officially in the race comprise 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.

All seven technical bids have been accepted by the PSL Governing Council and financial bids will be opened on Thursday.