Pakistan Super League is a professional Twenty20 cricket league, founded on 9 September 2015 with five teams and now comprises six teams. Instead of operating as an association of independently owned teams, the league is a single entity in which each franchise is owned and controlled by investors.
The commercial rights to the initial franchises were sold for US$93 million for a span of 10 years in December 2015. The market value of PSL in 2017 was up to US$300 million, according to Arif Habib.
The PSL season runs between the months of February and March, with each team playing matches in double round robin format; the top four teams with the best record qualify for the playoffs and culminates in the championship game, the PSL Cup Final. The league is directed out of the Pakistan Cricket Board head office in Lahore. Due to security reasons, the first season was played entirely in the United Arab Emirates. The inaugural champions were Islamabad United. Peshawar Zalmi were the 2017 PSL Champions, having defeated Quetta Gladiators in Lahore on 5 March 2017. Islamabad United were the 2018 PSL champions, beating Peshawar Zalmi on 25 March 2018. The current champions are Quetta Gladiators, who won the title on 17 March 2019 in Karachi.
The PSL is played in a double round-robin format. Every team plays each other twice and the top four advance to the Playoffs.
The league follows the rules and regulations dictated by the International Cricket Council, although it introduced DRS system in T20s which was later emulated by International Cricket Council as well. In the group stage, two points are awarded for a win, one for a no-result and none for a loss. In the event of tied scores after both teams have faced their quota of overs, a super over is used to determine the match winner. In the group stage teams are ranked on the following criteria:
Higher number of points
If equal, better run rate
If equal, highest number of wins
If equal, fewest losses
If still equal, the results of head to head meeting
In any play-off match in which there is no result, a super over is used to determine the winner. If the super over is not possible or the result of the over is a tie, the team which finished in the highest league position at the end of the regular season is deemed the winner of the match.