PCB Chairman Announces Prize Money for PSL 11

LAHORE: On Friday, the Chairman of the Pakistan Cricket Board (PCB), Mohsin Naqvi, announced the amount of money that will be given as the prize money in the much-hyped 11th season of the Pakistan Super League or the PSL. The scale of the season will be increased with the number of teams expanded to eight.

In a post on his official X account, Naqvi confirmed that the PSL 11 champions will receive $500,000, while the runners-up will take home $300,000.

Naqvi also introduced a new category to recognize off-field contributions to the game, announcing a $200,000 reward for the "Best Franchise Contributing Towards Cricket Development."

“Complementing the Pakistan Super League’s growth, I am thrilled to announce a new reward for franchises in the forthcoming editions,” Naqvi wrote on his official X account.

This is a major financial announcement as the PCB confirmed the auction for its two new franchises during the same period. The auction, which will play a major role in shaping PSL11, is scheduled for 6 January 2026.

The shortlisted cities competing for franchise allocation include Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit. Only bidders who meet the technical qualifications will be invited to the auction, with successful bidders granted the right to select their preferred city and team name from the shortlisted options.

Further underscoring the league’s rising global profile, the PCB stated:

“The HBL PSL, now recognised as one of the premier T20 leagues, continues to grow in commercial strength, fan following, and overall impact. We look forward to welcoming new stakeholders to the PSL ecosystem.”

Thursday’s announcement came amidst confusion caused by social media reports claiming that the names of the two new teams had already been decided, with Faisalabad and Gilgit thought to be frontrunners. 

However, the PCB swiftly dispelled these rumors, emphasizing once again that franchise names will only be decided after the auction and in strict accordance with the process outlined in the official bid documents.