Big-name bidders including Tareen join race for new PSL franchises

• PSL expands from six teams to eight.
• Franchise auction is set for January 8.
• Inverex, VGO TEL and OZ Group apply.

LAHORE: The Pakistan Super League (PSL) is poised to expand from six to eight teams as the Pakistan Cricket Board (PCB) completes technical evaluations of proposals submitted by interested groups, The News reported on Thursday.

The franchise auction is scheduled for January 8 at the Jinnah Convention Centre in Islamabad.

Among the confirmed bidders is the Tareen Group, led by businessman Ali Khan Tareen.

Tareen previously owned the Multan Sultans, a franchise he acquired in 2018 and helped transform into one of the PSL’s most consistent performers, winning the title in 2021 and reaching multiple finals.

However, relations between Tareen and the PCB soured over renewal terms and governance issues. He was the only owner not offered a 10-year extension, and the dispute escalated after the PCB issued a legal notice over alleged contract breaches. In late 2025, Tareen announced his exit. With his departure effective at year’s end, he is now eligible to bid for one of the new franchises.

Inverex Group, one of Pakistan’s leading renewable energy companies, has also applied for bidding rights. 

Its entry signals growing corporate interest in PSL’s expansion. Karachi-based VGO TEL, under CEO Naveed Gaba, has submitted its application as well. 

The OZ Group, chaired by Hamza Majeed, has formally entered the race, further intensifying competition.

Majeed has previously expressed his commitment to sports investment, making OZ Group a strong contender. Once successful bidders are confirmed, they will have the opportunity to select a home city from the PCB’s approved list, which includes Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit.