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PSL franchises renew their commitment to the league

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Lahore Qalandars accept PCB's offer to continue as PSL team for the next 10 years

Islamabad, 24 November 2025: Lahore Qalandars, PSL champions, proudly mark their 10-year anniversary, celebrating a decade of growth that has seen them become one of the most successful and valuable franchises in the Pakistan Super League.

The franchise has accepted the PCB’s renewal offer to continue as a PSL team for the next 10 years.

Following an independent valuation by independent experts EY MENA, Lahore Qalandars have been recognised as the most valuable team based on combined on-field performance and organisational strength. This accolade reflects the franchise’s commitment to sustainable growth and long-term development.

With three PSL titles in the last four seasons, Lahore Qalandars demonstrate excellence both on and off the field. The franchise has also invested in youth development, expanded fan engagement, contributed to cricket’s growth domestically and internationally, and consistently upheld sustainable excellence.

The Decade of Glory celebrations in Islamabad brought together the Qalandars family, including iconic Pakistani stars Shaheen Afridi, Fakhar Zaman, Haris Rauf and Salman Mirza. The festivities featured a special lunch reception and trophy ceremony with MD Zimbabwe Cricket, Mr. Givemore Makoni, and the Zimbabwe Cricket team, strengthening the franchise’s international partnerships.

The event underscored Lahore Qalandars’ strong ties with Zimbabwe Cricket, including player-exchange programsand opportunities for Pakistani players to gain experience in Zimbabwe’s domestic circuit. Zimbabwe captain Sikandar Raza, widely regarded as “Qalandars ka Sikandar,” played a pivotal role in this collaboration.
Sri Lankan stars Bhanuka Rajapaksa and last season’s PSL final man of the match Kusal Perera also attended, adding international flair to the celebrations.

The event also featured the announcement of the Lahore Qalandars High Performance Center expansion in partnership with Capital Smart City Islamabad, a project by Zahid Rafiq Group, aimed at nurturing the next generation of cricketing talent. This will be the franchise’s third High Performance Center in Pakistan, following successful setups in Lahore and Karachi.

Chairman Zahid Rafiq and MD Jahanzaib Zahid highlighted this strategic partnership as a true manifestation of the franchise’s vision. Speaking on the occasion, Zahid Rafiq said, "Building a High Performance Center under the renowned name of Lahore Qalandars is not just about infrastructure; it’s about creating a legacy where talent meets opportunity, and the future stars of Pakistan cricket are nurtured to shine on the world stage."

The collaboration embodies the group’s long-term vision of creating world-class cricketing infrastructure while fostering innovation, excellence, and opportunity for aspiring players across the country.

Atif Naeem Rana, Owner and CEO, Lahore Qalandars, said:

"Lahore Qalandars has always been more than just a team. It is a movement powered by passion, our fans, and the belief that excellence on and off the field must go hand in hand. Winning three titles in four years, investing in youth development, and forming global partnerships reflect what this franchise stands for. We are grateful to our partners, players, support staff, and fans who have shaped this remarkable ten-year journey. The next chapter promises to be even more impactful as we continue to push boundaries in the PSL and world cricket."

Sameen Rana, Owner and COO, Lahore Qalandars, said:

"Completing ten years is a proud moment for the entire Qalandars family. This journey has been built on hard work, stability, and a clear vision for what we want Lahore Qalandars to represent. The independent valuation recognising us for our overall strength is a testament to the systems we have built, not just the trophies we have won. Our commitment has always been to the growth of cricket, to developing young talent, and to building partnerships that elevate the game. As we step into the next decade, our ambition is even stronger and our responsibility even greater."
 
Peshawar Zalmi and Javed Afridi too have reportedly agreed to continue.

Ali Tareen, talk nah
I don't like Afridi, especially his drama around home games for KPK, but he ran his franchise well especially in the initial years. The Sammy Khan era was good for PSL and he also convinced a lot of players to tour Pakistan.

Qalandars have been very effective at their PDP programme and have developed players for global franchsies and the national team.

They are the best run franchises in the league, it is great news they are continuing.
 
The first 5 psl franchises invested in the PSL when no one believed in it. They deserve to reap the rewards of investing in the league at its most riskiest ie lower fees. Multan Sultans came in when the PSL was established and they willfully signed for $6.35 million against a reserve price of $5.25 million, if they can't afford it then let someone else take over who wants to match the price or pay extra
 
Karachi Kings to reign for another decade

Lahore, 25 November 2025:

The franchise rights for one of the most prominent and widely followed teams of the HBL Pakistan Super League, Karachi Kings, will remain with their current owners for the next decade, following the successful renewal of their franchise agreement on Tuesday.

The owners of the 2020 HBL PSL champions have reaffirmed their long-term commitment by extending the agreement at the updated market valuation determined by Ernst & Young - one of the world’s most credible and respected audit and advisory firms.

The renewal highlights the trust that partners continue to place in the HBL PSL’s upward commercial trajectory and solid brand presence, as the league prepares to welcome eight teams from season 11 onward.

PCB Chairman Mohsin Naqvi:

"It is a pleasure to announce that Karachi Kings will continue with their existing owners for another 10 years. Mr. Salman Iqbal and his team have played a pivotal role in elevating the stature of the HBL PSL and in building a franchise that commands a passionate following across the country and beyond. Their decision to renew reflects the enduring strength and potential of the league.

"Karachi Kings have consistently contributed to the league’s growth and to the promotion of cricket in Pakistan. We look forward to strengthening this partnership and further advancing our shared vision for the development of the game."

HBL PSL Chief Executive Officer Salman Naseer:

"Karachi Kings have been an integral part of the HBL PSL’s journey, bringing energy, ambition and excellence to the league season after season. We are delighted to continue working with Salman Iqbal and his management team over the next decade and hope that he continues to contribute beyond the call of duty.

"Their belief in the HBL PSL and their efforts in promoting cricket and nurturing talent are deeply appreciated. We are excited about this renewed partnership and the bright future it promises for both Karachi Kings and the league."

Karachi Kings lifted their maiden HBL PSL title in 2020 remain one of the league’s most recognisable and commercially influential franchises.
 
Karachi Kings to reign for another decade

Lahore, 25 November 2025:

The franchise rights for one of the most prominent and widely followed teams of the HBL Pakistan Super League, Karachi Kings, will remain with their current owners for the next decade, following the successful renewal of their franchise agreement on Tuesday.

The owners of the 2020 HBL PSL champions have reaffirmed their long-term commitment by extending the agreement at the updated market valuation determined by Ernst & Young - one of the world’s most credible and respected audit and advisory firms.

The renewal highlights the trust that partners continue to place in the HBL PSL’s upward commercial trajectory and solid brand presence, as the league prepares to welcome eight teams from season 11 onward.

PCB Chairman Mohsin Naqvi:

"It is a pleasure to announce that Karachi Kings will continue with their existing owners for another 10 years. Mr. Salman Iqbal and his team have played a pivotal role in elevating the stature of the HBL PSL and in building a franchise that commands a passionate following across the country and beyond. Their decision to renew reflects the enduring strength and potential of the league.

"Karachi Kings have consistently contributed to the league’s growth and to the promotion of cricket in Pakistan. We look forward to strengthening this partnership and further advancing our shared vision for the development of the game."

HBL PSL Chief Executive Officer Salman Naseer:

"Karachi Kings have been an integral part of the HBL PSL’s journey, bringing energy, ambition and excellence to the league season after season. We are delighted to continue working with Salman Iqbal and his management team over the next decade and hope that he continues to contribute beyond the call of duty.

"Their belief in the HBL PSL and their efforts in promoting cricket and nurturing talent are deeply appreciated. We are excited about this renewed partnership and the bright future it promises for both Karachi Kings and the league."

Karachi Kings lifted their maiden HBL PSL title in 2020 remain one of the league’s most recognisable and commercially influential franchises.
Whats the Multan Sultans official word?
 
The three-time champions, the 2017, 2018, and 2020 winners, marked their 10-year anniversary by renewing their league participation, with an independent valuation confirming Lahore Qalandars as the league’s most valuable franchise.
 

Islamabad United ready to roar for another decade​

Lahore, 25 November 2025: The franchise agreement of Islamabad United, one of the most decorated teams in the HBL PSL with three titles, has been renewed for another 10 years, ensuring the team stays with its existing owners.

The owners of the pioneering and consistently high-performing franchise have extended their agreement at the updated market valuation determined by Ernst & Young - one of the world’s most credible and respected audit and advisory firms.

This extension reflects the continued confidence and belief that key stakeholders place in the commercial strength and long-term brand value of the HBL PSL, which is set to expand to an eight-team league from its 11th edition next year.

PCB Chairman Mohsin Naqvi:

"I am delighted that Islamabad United will continue its journey with the HBL PSL for another decade. Mr. Ali Naqvi has been an exemplary partner whose dedication and professionalism have strengthened both their franchise and the league. Their decision to renew reaffirms the trust placed in the HBL PSL’s vision, growth, and long-term potential.

"Islamabad United have consistently set high standards on and off the field, contributing significantly to the league’s development. The PCB looks forward to building on this partnership and achieving new milestones together."

HBL PSL Chief Executive Officer Salman Naseer:

"Islamabad United have played a central role in shaping the identity and excellence of the HBL PSL since its inception. We are thrilled to continue working with Ali Naqvi for the next 10 years and hope that his cultured, professional and strategic strengths will aid the HBL PSL to attain unprecedented heights.

"Islamabad United’s commitment to high performance and innovation has had a lasting impact on Pakistan cricket. This renewed partnership marks an exciting new chapter for both Islamabad United and the HBL PSL as we move into new era."

Islamabad United are the first-ever champions of the HBL PSL and remain one of the league’s most consistent franchises, known for their strong cricketing culture and data-driven approach.

PCB
 
PCB shifts PSL financial transactions from USD to PKR in major policy move

Shift to PKR payments and revised franchise valuations

In a significant shift to its financial operations, the Pakistan Cricket Board (PCB) has decided to conduct all monetary transactions with Pakistan Super League (PSL) franchises in Pakistani rupees (PKR) instead of US dollars, according to a report by PTI. The move signals a break from the league’s original dollar-denominated model and could have long-term implications for both the board and its franchise partners.

Of the existing franchises, Lahore Qalandars, Quetta Gladiators, Peshawar Zalmi, Karachi Kings, and Islamabad United have already renewed their contracts for the next 10 years under the revised structure, while Multan Sultans are yet to renew their contract for the next 10 years as Ali Khan Tareen has decided not to continue his ownership of the franchise. The PCB also plans to expand the league by adding two new franchises, with their identities expected to be revealed on January 6.

Back in 2016, when PSL was launched, franchise rights were sold in US dollars. At the time, the dollar-to-rupee exchange rate stood at around 105, allowing Lahore Qalandars to secure a 10-year deal for US$ 25 million — roughly PKR 2.65 crore annually. However, with the dollar rate rising to 175 by 2019, the same fee ballooned to PKR 43.75 crore (approx. US$ 1.55 million), prompting franchises to complain about mounting financial losses.

In response, the PCB had then adjusted its model by capping the dollar rate at 175 and increasing the franchises’ share in the central revenue pool to 95%. Still, as the dollar surged to 282 in recent years, financial pressures persisted, setting the stage for this currency switch.

The current shift to rupee-based transactions could stabilize costs for franchises — or not, depending on how valuations evolve under the new system.

What remains unclear is whether this shift will ultimately benefit the franchises or the PCB. The opacity surrounding the brand value of the PSL and its teams continues to invite scrutiny. Financial analysts and stakeholders alike are watching closely to see if this pivot to PKR transactions resolves the financial strain franchises have faced — or merely recalibrates it.

Meanwhile, the PSL also faces ongoing structural challenges. Chief among them is the lack of foreign investors and sponsors, an issue that has hindered the league’s ability to globalize its appeal.

As the PSL approaches a new phase with franchise renewals, possible expansion, and a new exchange rate approach, stakeholders hope this can stabilise the league’s financials and serve as a foundation for future sustainability.

 
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