Two new franchises have been guaranteed at least Rs850 million each for the first five editions, as the financial model for the inclusion of new teams in the Pakistan Super League (PSL) finalised.
According to details surfaced on Tuesday, the investors from Pakistan, the United Kingdom and the United States have shown interest in the new franchises, sources said.
New teams will receive up to 95 per cent of central income, similar to existing franchises, sources added. Approval for the name of any city, apart from those already announced by the PCB, will be mandatory.
A fee of $1 million will be required for the naming of a new city. Teams will not be permitted to take the name of a brand or company, sources stated.
