They added that none of the four bidders met the reserved price of over Rs7 billion for two years.

The flagship event is tentatively scheduled for February 8 to March 24, 2024. According to media reports, the PCB was considering shifting the PSL edition to the United Arab Emirates because of the general elections in the country.

As many as six teams would participate in the tournament that would continue for over a month.

Last year, the PCB Bid Committee recommended awarding the broadcasting rights to ARY Communications (Pvt) Limited (ARY) / Pakistan Television Corporation Limited (PTVC) for 2022-2023.

The decision was made after the Independent Media Corporation Pvt. Ltd (IMC – the parent company of GEO Entertainment Television Pvt Ltd) and the ARY/PTVC exceeded the reserve price of Rs3.584 billion set by the PCB.

• Aggregate rights fee – IMC = PKR3,740,000,000
• Aggregate rights fee – ARY/PTVC = PKR4,350,786,786

More than 400 players from 22 nations had registered for the ninth edition of the PSL.

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Lahore Qalandars under the captaincy of Shaheen Shah Afridi would be defending their title in the 10th edition of the game.

Last year, the PCB unveiled the new PSL trophy ‘Supernova’ which resembled a trophy used in early editions of the league.