The Pakistan Cricket Board (PCB) has announced the completion of the independent valuation process for the Pakistan Super League (PSL) franchises and other commercial assets.

Following the conclusion of this exercise, renewal offer letters reflecting the new franchise fees for the next 10 years have been formally shared with all compliant PSL Franchises, requesting them to revert with their decision within the stipulated timeline, says a PCB statement.

To ensure full transparency and facilitate a clear understanding of the valuations, the PCB has also arranged collective and individual meetings between franchise representatives and the independent valuer (EY MENA).

These sessions will allow the franchises to review the valuation methodology and discuss any queries.

The valuation reports for two new PSL Franchise Teams have also been received by the PCB, and the tender process for their sale will be formally initiated shortly.

Interested parties will have a choice of city names from amongst: Hyderabad, Sialkot, Muzaffarabad, Faisalabad, Gilgit and Rawalpindi,

The PCB remains committed to maintaining a fair, transparent and mutually beneficial partnership with all PSL stakeholders, as the league continues to play a pivotal role in the growth and global recognition of Pakistan cricket, the statement added.