PCB sets bidding fees for two new PSL teams

Lahore: The Pakistan Cricket Board (PCB) has fixed the bidding fee for two new teams in the Pakistan Super League (PSL).
According to sources, the PCB has set the bidding fee for the two new teams, a refundable security deposit of 200,000 USD and a non-refundable amount of 20,000 USD must be submitted.

Sources say the purpose of the bidding fee is to finalize matters only with serious buyers. Those interested in purchasing the new teams will submit the bidding fee along with their offer.

According to sources, some non serious buyers intend to submit documents merely for company or personal publicity. The PCB aims to proceed after thoroughly scrutinizing all documents.

Sources further stated that there is a large number of buyers interested in purchasing the two new PSL teams. The last date for submitting offers for the new teams has been set as 15 December.