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ESTABLISHMENT

In September 2015, the Pakistan Cricket Board officially announced the launch of the PSL. Former Pakistani national team captains Wasim Akram and Rameez Raja signed up to promote the PSL and become brand ambassadors of the league for three years.[2] After several years of planning and two previous failed attempts,the league officially began on 4 February 2016 in the United Arab Emirates where daughter of former Pakistani president, Asif Zardari, Bakhtawar Bhutto-Zardari, alongside Nahyan bin Mubarak Al Nahyan, inaugurated the opening ceremony. The first two seasons included five teams based on the capital cities of Pakistan's provinces and the Federal capital. In its first season the PSL had a higher percentage of international players. The league uses a draft system for player recruitment similar to that used in many North American professional sports leagues and as opposed to the auction system used in some other T20 leagues.[8] The PSL's official logo was launched on 20 September 2015 in a ceremony in Lahore, and was revealed by 3Di.The ceremony was attended by current and retired cricketers, as well as Pakistani celebrities. The commercial rights to the initial franchises were sold for US$93 million for a span of 10 years in December 2015. The market value of PSL in 2017 was up to US$300 million according to Arif Habib, and has grown significantly in the years since.[10]

Expansion

The possibility of adding a sixth team to the league in 2017, possibly in Azad Kashmir, was discussed, but rejected in May 2016. Sethi announced that there would be the sixth team in next season of PSL, a few days after the end of the 2017 PSL. Khyber Pakhtunkhwa Governor Iqbal Zafar Jhagra also announced that the PSL administration would be approached for the participation of a sixth team in the 2018 PSL. Hafiz Hafeezur Rehman, chief minister of Gilgit-Baltistan, also said to have the sixth team from Gilgit-Baltistan. The PCB short-listed five names for sixth team: Faisalabad, FATA, Hyderabad, Dera Murad Jamali and Multan. The final name of the sixth team for PSL 2018 season was announced on 1 June 2017; Multan Sultans; owned by Schön Properties at $5.2 million annually. On 10 November 2018, PCB terminated franchise agreements with Schön Properties, resulting in a new owner being introduced. New owners decided to continue with the same name (Multan Sultans) for the franchise.

Profits

In May 2016, the PCB announced that the inaugural season of the PSL had yielded profits of US$2.6 million. In the 2022 edition, which was held entirely in Pakistan, PCB chairman Ramiz Raja reported a 71 percent increase in the PSL's profit; each franchise received Rs. 900 million (US$3.9 million) in revenue before the season had started.

Format

PSL playoffs system The PSL is played in a double round-robin format. Every team plays each other twice and the top four advance to the Playoffs. The league follows the rules and regulations dictated by the International Cricket Council, although it introduced DRS system in T20s which was later emulated by International Cricket Council as well. In the group stage, two points are awarded for a win, one for a no-result and none for a loss. In the event of tied scores after both teams have faced their quota of overs, a super over is used to determine the match winner. In the group stage teams are ranked on the following criteria:

Higher number of points
2.If equal, highest number of wins
3.If equal, fewest losses
4.If still equal, the results of head-to-head meeting

In any play-off match in which there is no result, a super over is used to determine the winner. If the super over is not possible or the result of the over is a tie, the team which finished in the highest league position at the end of the regular season is deemed the winner of the match.

Schedule

PSL has taken place in February and March of each year. The only exception was the interruption due to COVID-19. The PSL has taken place prior to Indian Premier League. In 2025, PSL and IPL will overlap in timing.

Teams

See also: List of Pakistan Super League team records and List of Pakistan Super League venues According to a PCB press release, around 20 parties showed an interest in buying franchises for the league before the first season. On 18 October 2015 the Pakistan Cricket Board began accepting tenders for franchises with a deadline for bids of 15 November. According to a statement by the PCB, bid winners would be granted the rights to a franchise for a term of ten years. Interested parties included the ARY Group, Omar Associates, Arif Habib Group, Haier, Mobilink as well as international groups including Leonine Global Sports and the Qatar Lubricants Company (QALCO). All five franchises for the first season of the league were sold on 3 December 2015, for a total price of US$93 million, after seven bidders presented formal propose. PSL Map of Participating Nations In April 2017, PCB invited bids for the sixth team and the deadline set for the submission of both the financial and technical proposals was 30 May and as many as 40 national and international parties expressed an interest in buying the sixth franchise. On 1 June 2017, from five regions short-listed by PCB Multan was bought by Schön Properties for a price of US$5.2 million per year becoming the most expensive team of the PSL. However, on 12 November 2018, its rights were terminated by PCB due to payment issues. PCB invited bids and resold the "6th team" to Ali Tareen consortium after successful bid with US$6.35 million for 7 years on 20 December 2018

The Pakistan Super League (PSL) is a professional Twenty20 cricket league The league was founded on 9 September 2015 with five teams by the Pakistan Cricket Board. Contested during February and March of every year by six teams representing six cities of Pakistan.