The Pakistan Cricket Board (PCB) has once again pushed back the deadline for submitting bids for two new franchises in the Pakistan Super League (PSL). This marks the second such postponement, signaling a lack of robust interest from potential investors for the high-profile T20 league's expansion.
Deadline Extended Amid Lukewarm Response
A source from the news agency PTI confirmed the development, stating, 'The last date for submitting initial bids is now extended by two days.' While the PCB has not yet made an official announcement, the revised deadline for initial bids is now December 24. This follows an earlier shift from December 15 to December 22, which was announced by PCB chairman Mohsin Naqvi during a PSL promotional event in New York.
The primary reason for this latest delay appears to be underwhelming technical bids for the new teams. The board is reportedly seeking more competitive proposals before moving to the final stage. A final auction for the franchises is scheduled for January 6, but it will be restricted only to candidates who are shortlisted after the evaluation of the initial bids.
PCB's Global Push and Domestic Challenges
In an effort to attract capital, the PCB has been conducting aggressive international roadshows, including events in London and New York. The strategy aims to lure foreign investment instead of relying solely on domestic buyers. However, the repeated extensions suggest this global outreach has yet to yield the desired level of commitment.
Simultaneously, the board is grappling with uncertainty surrounding an existing team. The future of the Multan Sultans remains unclear after its former owner, Ali Tareen, exited following a disagreement with the board. Unofficial reports indicate that the PCB is considering managing the franchise directly for the upcoming season. The plan is to then re-tender the team's rights for a nine-year period ahead of PSL's 12th edition.
What This Means for PSL's Growth
The consecutive delays in the bidding process cast a shadow over the planned expansion of the PSL. The league, which is a major cricketing and commercial property for Pakistan, is looking to grow from six to eight teams. The tepid investor interest, despite international marketing efforts, points to potential challenges in the current economic climate or concerns over the league's financial model.
All eyes will now be on the December 24 deadline to see if the PCB receives more compelling bids. The outcome will be crucial in determining the pace and success of the PSL's next phase of growth.
