Dubai-Based Schön Group Wins Rights To New Franchise In Pakistan Super League

The Schön Group, a Dubai-based enterprise "well-established" in the real estate business, "won the rights to the sixth franchise of the Pakistan Super League," and chose Multan as its team, according to Umar Farooq of ESPN.com. The deal was confirmed by the Pakistan Cricket Board, "pending legal formalities, and the contract is for eight years." The Schön Group's owners "have roots in Pakistan." As many as 30 companies, according to the PCB, "showed interest in the franchise, with about 12 submitting bids." Out of these bids, only Schön "made a bid high enough to meet the base price" of $5.2M per year. The highest bidder had the "right to choose the base city for the new franchise out of Multan, Faisalabad, Dera Murad Jamali, FATA and Hyderabad." The PCB had been "considering adding a sixth team to the tournament after its first season" in '16, but a contract between the PCB and the five franchises "meant the expansion could take place only after the second season" (ESPN.com, 6/2).