Six companies bid to buy a team in the tournament. The companies went into a lottery of which they were to pick one of six "iconic" players from Bangladesh who were perceived to have outstanding ability. Each company then picked three of 18 players who had represented the Bangladesh national cricket team. They were categorised into a certain class, getting paid a certain amount of money. No player could cost more than 400,000 Taka.
Each franchise had an "icon" player. Although originally suggested to have player auction, due to the shortage of time players were divided into Grades: A+, A, B, C, D with the A+ players receiving 4 lakh Bangladeshi Taka. Each team was allowed to list up to 6 foreign players but play a maximum of two. Most foreign players were from the Indian subcontinent including Shoaib Akhtar (Cyclones of Chittagong). Rajshahi Rangers signed Aiden Blizzard from Victoria, Australia.