Most PSL franchises not interested in buying teams in Pakistan Junior League

Pakistan Cricket Board (PCB) has started its efforts to sell the teams for the Pakistan Junior League (PJL) with plans to sell a team for $ 5 million to $ 7 million.

Meanwhile, the technical will be submitted today, most of the Pakistan Super League (PSL) franchises have changed their decision to participate in the bidding. They are worried about the lack of commercial interest.

On the other hand, the board has developed a better financial model for PJL than PSL. The ownership rights of the teams will be given for 40 years, some of the fee will also be returned.

The one who buys the most expensive team, the more money they will get from the central pool but everyone will have to deposit $3,00,000 in advance.

PJL is the dream project of Chairman PCB Ramiz Raja and its first edition will be played in October. The bids of less amount in title sponsorship and streaming rights have worried the board a little.

According to sources, most of the PSL teams stayed away from being a part of the PJL due to uncertainty regarding revenue. Interestingly, the Super League franchises wanted changes in the financial model have not been done yet, but PJL's model is far better than PSL.

Under this, part of the franchise fee will be returned by PCB, it is called franchise pool, it will be possible to get back 33 to 50 percent of the money, PCB will retain 10 percent of the revenue.

The remaining 90 percent of the money will be distributed among the franchises, however, the money will be given depending on the one who has the highest fee.

The ownership rights of the teams are also being given for 40 years, after 20 years, the contract will be amended and the fee will increase. Potential bidders are worried about the board's lack of commercial agreements.

There is no knowledge of the production costs yet. During the last days, only one company participated in the category sponsorship bidding and the other had to withdraw, the only company participating in the bidding for streaming rights did not raise much money, to which the PCB responded that they had been approached by a major company that is ready for title sponsorship and other deals.