Two new franchises in the Pakistan Super League have been guaranteed at least Rs850 million each for the first five editions, under a financial model.
Sources said investors from Pakistan, the United Kingdom and the United States have expressed interest in acquiring the new franchises under the approved framework.
Under the proposed arrangements, the new teams will receive up to 95 per cent of central income, matching the share currently allocated to existing franchises.
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Any proposed city name, apart from those already announced by the Pakistan Cricket Board, will require mandatory approval before being adopted formally.
Sources added that a fee of one million dollars will be charged for securing the naming rights of a newly approved city.
Teams will not be allowed to use the name of any brand or company, according to the conditions outlined by sources officially.
