The Pakistan Cricket Board (PCB) is preparing a new decade-long franchise deal for the Pakistan Super League (PSL), signalling major adjustments to its financial and ownership model.

According to sources, the existing decade-long franchise contracts will expire in December, prompting the PCB to initiate a comprehensive restructuring of the tournament.

A high-level meeting chaired by PSL Chief Executive Officer Salman Naseer was held at the PCB headquarters in Lahore on Saturday, where the chartered accounting firm EY MENA presented the official market valuation report for the PSL.

The updated valuations of all six franchises will be finalised in the coming days, forming the basis for the new contracts.

According to a report, the PCB intends to share draft renewal agreements with franchise owners within a week.

Under the proposed framework, only current franchises meeting eligibility criteria will be allowed to participate in the new bidding process.

Those who decide not to renew under revised terms will have their teams offered through open bidding.

In a significant financial shift, the PCB is considering transitioning all PSL-related transactions from US dollars to Pakistani rupees — including the sale and ownership rights of teams.

The PCB is also exploring the possibility of expanding the league from six to eight teams, a move that would mark the PSL’s first major structural expansion since its launch in 2015.