Lahore (Staff Report): The Pakistan Cricket Board (PCB) has announced on Thursday sixth team of Pakistan Super League's (PSL) as Schon Group purchased Multan franchise for PSL 2017 from 2018 onwards.

The group bought the rights for the team for $5.2 million; however, the name of the team has not been finalized yet.

Earlier, PCB had invited bids from interested parties having interest to buy franchise rights for a sixth team of the PSL 2017.

Currently, the PSL consists of five teams, Islamabad United, Karachi Kings, Lahore Qalandars, Quetta Gladiators and Peshawar Zalmi.