In a significant uplift for Pakistan Super League (PSL) franchises, PCB Chairman Mohsin Naqvi has announced major prize money increases starting from the next edition of the league.

The move aims to strengthen franchise cricket and take Pakistan’s cricketing ecosystem “to new heights.”

Speaking in Lahore, Mohsin Naqvi revealed that the PSL champion team will now be awarded $500,000. This marks one of the biggest financial boosts in the league’s history, signaling renewed commitment to supporting franchises and players.

He said the improved prize pool will further motivate teams and enhance the competitive spirit of the tournament.

Runners-up, development awards announced

Alongside the champions’ prize, the runners-up team will receive $300,000, Naqvi confirmed. Additionally, a new category has been introduced to encourage long-term cricket growth within franchises.

Also Read: PCB rebuts reports of finalizing names for two new PSL teams

The best franchise in cricket development will now receive $200,000, rewarding teams that invest in talent grooming, youth pathways, and grassroots initiatives.

Naqvi reiterates vision for Pakistan cricket

Mohsin Naqvi reaffirmed his commitment to elevating Pakistan cricket, saying: “Let’s take Pakistan cricket to new heights.”

He emphasized that strengthening the PSL -- Pakistan’s premier cricketing brand -- is central to that mission. The enhanced financial incentives, he said, are designed to help franchises thrive both on and off the field.

Six new teams

Meanwhile, an important milestone in the expansion of the PSL has been achieved as the list of six potential cities for new franchises has been released.

According to the PCB, the auction for two new PSL teams will be held on January 6, 2026. The cities shortlisted for potential franchises include Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit.

Only technically qualified bidders will be allowed to participate in the auction, ensuring transparency and compliance with league standards.

PSL is continuing its journey toward becoming a world-class T20 league, the CEO noted.