Pakistan super league teams sold to five franchisee.
Karachi sold with the biggest value of 2.6 million Us dollars.
Lahore in 2.4, Peshawar 1.6, Islamabad 1.5 and Quetta sold in 1.1 m$.
The event will be held in UAE from 4 to 23rd, Najam Sethi
Current Line (Lahore)
PSL at last become in real page of working format as five teams franchise was sold by the PCB to the four national and one international owner of different organizations. According to Pakistan Super league governing council head Najam sethi who shared the information with media in a press conference at Gadafi Stadium.
"We have sold all five teams to the five different organizations for the 10 years but initially the rights holders are bound to follow present contract for three years that will extend for the further period with the mutual understanding".
Franchise rights have been sold for USD 93 million for the ten years in which Karachi was the biggest value team with 2.6 million dollars purchased by the leading media group (ARY) head Salman Iqbal while Lahore was franchised to the Qatar Oil owned by the Pakistani and a Qatar national on the cost of 2.4 million dollars. Islamabad team rights were sold to the Capital Leonine Global Sports with the 1.5 million dollars, Peshawar franchised in 1.6 million dollars to the big home appliances firm Haier group Pakistan while Quetta franchised to the Omer Associates on the cost of 1.2 million dollars.
In another successful development, one of Pakistan’s oldest and biggest banks, Habib Bank Limited has joined the Pakistan Super League as title sponsor for the first three years of the league. As a result of this partnership, the league will now officially be known as the HBL Pakistan Super League.
At this beginning of PSL journey Sethi said “I am delighted with these positive developments and this is a major achievement in our PSL journey.
The best part is that all team owners are ardent cricket fans and their dedication will make this league a success.
HBL’s association with Pakistan Super League is another indication of established brands partnering with the league,” said Mr. Najam Sethi, Chairman PSL Governing Council.
Having reserved production rights to ensure international standard coverage, HBL PSL’s broadcast arrangements have also been finalized for the next three years. The coverage will be produced by world leaders Sunset+Vine. Matches will be aired in Pakistan on Ten Sports and PTV Sports. Global TV rights for the same duration have been sold to Tech Front, a UAE-based media rights acquisition company.
Najam Sethi also shared that The sale of all commercial rights – broadcast, franchise, and sponsorship - is perfectly in line with the league’s budgetary estimates. The coach selection process for all five teams will take place in the next 10 days and the player draft event will take place by the end of December.
The first edition of the HBL PSL will take place from 4-23 February, 2016 with matches taking place in Dubai and Sharjah.
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