LAHORE -  The Pakistan Cricket Board (PCB) has invited bids from interested parties to acquire franchise rights for the sixth team to be introduced to the HBL Pakistan Super League (PSL) next season.

The cricket board has shortlisted five regions, including Hyderabad, Dera Murad Jamali, FATA (KP), Faisalabad and Multan, on the basis of provincial representation and domestic cricket ranking on merit.  The board also invited bids for a new franchise in the third season of the PSL. The deadline for the submission of both the financial and technical proposals has been set for May 30, while the financial bids will open the next day. The first two seasons of the PSL had five franchises: Lahore Qalandars, Islamabad United, Karachi Kings, Quetta Gladiators and Peshawar Zalmi.

In 2016, Sethi had floated an idea to have a Kashmir team for the second season, but it was rejected after opposition from some of the current franchises on financial grounds and the potential for controversy given Kashmir's sensitive status vis-a-vis India. "Only technically qualified bidders will be allowed to participate further in the process," the PCB stated in a press release issued on Friday.

The idea to add a sixth team to the PSL roster was floated as a possibility in May 2016, but the contract between PCB and the existing franchises restricted the expansion before the second season. The reasoning behind waiting for at least two editions of the PSL before adding a sixth team was so that the existing franchises could "consolidate their fan base". The PSL has emerged to be a potentially profitable venture for investors, with profits "exceeding expectations" according to Najam Sethi. The technical proposals will be opened on May 30, 2017, in a ceremony here at the National Cricket Academy (NCA).

The PCB had considered the prospect of adding a new team after the first season but a contract between the PCB and the five franchises meant the expansion could take place only after the second season. The opposition from the franchises was centered around the potential cut in their share of the central revenue pool. After the inaugural edition, over 70% of the revenue was split equally among the five franchises and the percentage would have been higher had the tournament been held in Pakistan instead of the UAE.