The owners of Lahore Qalandars, Sameen Rana and Atif Rana, have officially renewed their PSL ownership rights in the PSL for another decade, becoming the first PSL franchise to publicly accept the new valuations issued by the PCB. This confirmation ends speculation surrounding the future of what has become the league’s most valuable team.
An independent valuation done by EY-MENA valued the Qalandars’ market worth at approximately PKR 980 million (USD 3.47 million) per year. But according to the revised renewal policy, the existing owners have to pay their old franchise fee plus 25% of the new valuation, which puts the Qalandars’ annual renewal cost at approximately PKR 670 million (USD 2.37 million).
The franchise attributed consistent performance and a sustainable organisational model for its recognition as the PSL‘s most valuable team.
Peshawar Zalmi Also Confirm 10-Year Renewal
Shortly after the Qalandars’ announcement, Peshawar Zalmi owner Javed Afridi confirmed Zalmi’s renewal of PSL ownership rights for another ten years. Zalmi’s market value has risen significantly from PKR 270 million (USD 956,000) in 2016 to approximately PKR 870 million (USD 3.1 million) today
Afridi, upon renewal, will be paid approximately PKR 500 million (USD 1.8 million) per year. He also went on to say that this commitment is a long-term vision based on ambition, innovation, and more contributions towards Pakistan cricket.
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Status of Remaining Franchises
While most teams are still to make public announcements, it is expected that all franchises, except Multan Sultans, will eventually renew. Key updates include:
Karachi Kings
Previously the most expensive franchise of the PSL in 2016 at PKR 440 million
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Current valuation: just under PKR 800 million
Renewal fee for owner Salman Iqbal: around PKR 640 million (USD 2.27 million) per year
While being a big brand, Karachi Kings have witnessed the lowest percentage growth as compared to the original five teams.
Multan Sultans Face Valuation Dispute
Multan Sultans, which entered PSL in season three, became the only franchise whose valuation went down.
Original annual fee: PKR 1.1 billion (USD 3.89 million)
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New valuation: PKR 850 million (USD 3 million)
Under the renewal rules, Sultans would have to pay the higher old valuation plus 25%, making renewal significantly more expensive. This discrepancy led to owner Ali Tareen publicly challenging the PSL’s process, resulting in the franchise not receiving a renewal offer. Tareen has hinted at potential legal action.
Expansion Plans: Two New Teams Expected Next Season The PSL is also gearing up for expansion, as two more franchises are likely to be added for the next edition of the league. The bidding will take place early next year, although final names of the teams have not been disclosed so far.
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