Here Are the Rules of Auction for New PSL Teams

Pakistan Super League (PSL) officials have outlined the rules governing the two teams auction process, detailing bidding procedures, timeouts, and franchise selection rights.

According to the rules, all bids must be quoted in Pakistani rupees, with a minimum incremental bid of Rs. 10 million from the base price announced by the Pakistan Cricket Board (PCB).

Any bid increase below this amount will not be accepted, although bidders are allowed to raise bids beyond the minimum increment without any upper limit.

Each bidder will be permitted one strategic timeout of up to five minutes in every round of the auction. During this timeout, bidders may consult their representatives but are not allowed to communicate with other bidders.

A bidding round will be declared closed when no bidder surpasses the highest bid following the auctioneer’s final call. Once closed, the highest valid bid above the base price will be provisionally declared the winning bid.

Under the auction framework, the successful bidder in Round One will receive the first right to select a city name from the available pool for Team Franchise Number Seven. However, the Round One winner will not be eligible to participate in Round Two.

The successful bidder in Round Two will then receive the second right of selection from the remaining five city names for Team Franchise Number Eight.

In addition, PSL officials have clarified the tie-bid procedure. A tie bid will occur when two or more bidders are determined by the auctioneer to have submitted the same highest valid bid at the same time, with no higher bid received within the stipulated time.

In such a situation, the auctioneer, acting under the direction of the PCB Auction Committee, will reopen bidding exclusively among the tied bidders. The rebidding may continue for one or more additional rounds, on terms determined by the auction committee.

The rules aim to ensure a structured and transparent auction process as the league moves forward with the addition of new franchises.