Each team plays the group stage matches in a double round robin format and the top four teams with the most points qualify for the playoffs, culminating in the final.
There have been eight seasons of the league. Islamabad United and Lahore Qalandars being the only teams to have won the title twice, are the most successful teams. The current champions Lahore Qalandars are the only team to successfully defend its title, after winning in the 2023 season.
History
In September 2015, the Pakistan Cricket Board officially announced the launch of the PSL. Former Pakistani national team captains Wasim Akram and Rameez Raja signed up to promote the PSL and become brand ambassadors of the league for three years. After several years of planning and two previous failed attempts, the league officially began on 4 February 2016 in the United Arab Emirates Sports Minister Nahyan bin Mubarak Al Nahyan, inaugurated the opening ceremony. The first two seasons included five teams based on the capital cities of Pakistan's provinces and the Federal capital. In its first season the PSL had a higher percentage of international players. The league uses a draft system for player recruitment similar to that used in many North American professional sports leagues and as opposed to the auction system used in some other T20 leagues.
The PSL's official logo was launched on 20 September 2015 in a ceremony in Lahore, and was revealed by 3Di.The ceremony was attended by current and retired cricketers, as well as Pakistani celebrities.
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, and has grown significantly in the years since.
