PSL Chairman, Najam Sethi said on Monday that including a Kashmir team in the second edition of Pakistan Super League is not easy and can encounter few obstacles.
It was agreed with the five franchises of the inaugural PSL that sixth team will not be inducted in the league before the third edition.
“We will not have [a new team] until the third year; that is written,” Sethi said while talking to ESPNCricinfo. “But at the same time we are looking at the financials about the addition of a sixth team, in terms of whether it will be Kashmir, Faisalabad, Sialkot, Gilgit-Baltistan or any other team. That decision is pending. We have to weigh the pros and cons and that’s the issue right now but we cannot have it until all franchises agree. Without their consent we can’t make it [happen].”
The five franchises, Karachi, Islamabad, Lahore, Peshawar and Quetta, might feel insecure in terms of their potential profit with the addition of a new franchise, “Of course we have to offer guarantee to the teams that they will be better by having a sixth team and have to convince them,” he said. He further added, “I have my team working on different values, estimated profits and revenues before pitching this idea to them but this idea is definitely under consideration. Basically, the advice from our finance department is that this is the high time to add sixth team as the values are very high at this stage before the second edition. We have to cash in the hype we have created from the first edition and this may go down next year.”
Najam Sethi told in the interview that they spent more than their estimated budget, however, they were able to earn far more than the anticipated revenue.
“We beat our own expectations and the asset value of each team has increased drastically,” he stated, “Teams aren’t really making profits right now from the market and they need time to make themselves a proper brand but their asset value has gone up significantly. If any of the teams want to sell their team they can get a hike of one million in their original price, which is a welcoming sign.”
The Chairman PSL went on to say, “Teams aren’t really making profits right now from the market and they need time to make themselves a proper brand but their asset value has gone up significantly. If any of the teams want to sell their team they can get a hike of one million in their original price, which is a welcoming sign.”