Lahore Qalandars Secure Ownership Renewal for Another Decade

Lahore Qalandars, led by Sameen Rana and Atif Rana, have confirmed the extension of their ownership rights in the Pakistan Super League (PSL) for the next 10 years. This renewal marks a milestone for the franchise, making it the first team to publicly accept the revised terms set by the Pakistan Cricket Board (PCB).

The deal comes after a thorough re-evaluation process led by independent financial experts, EY-MENA. This independent review has identified Lahore Qalandars as the most valuable team in the PSL, based on their excellent on-field record and strong organisational growth. The team’s rise as the most valuable franchise reflects its consistent dominance in the league and its ability to build a sustainable, successful model for future years.

Details of the Renewal and Financial Terms

Under the terms of the new agreement, Lahore Qalandars will pay an annual franchise fee of approximately PKR 670 million (USD 2.37 million). This fee is a combination of the previous fee of PKR 425 million (USD 1.5 million) plus an additional 25% based on the updated franchise valuation. The deal is considered favourable for Qalandars’ current ownership, as it allows them to retain control of the franchise at a cost lower than the full market value.

Had the ownership changed hands, the new franchise owners would have been required to pay the full market value, which is PKR 300 million higher. This provision ensures that the Qalandars continue to benefit from a discounted rate, rewarding their long-standing involvement with the league.

Qalandars’ Long-Term Commitment to Growth

Lahore Qalandars issued a media release following the renewal confirmation, underlining their commitment to long-term growth and success in the PSL. “The franchise has accepted the PCB's renewal offer to continue as a PSL team for the next 10 years,” the statement read. “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.”

The quote emphasises the Qalandars’ vision for the future, focusing on their organisational strategies and on-field success. 

Other PSL Franchise Renewals and Multan Sultans' Situation

Lahore Qalandars became the pioneers of announcing their renewal, and the majority of other franchises are likely to do the same. Nonetheless, there is still uncertainty over the Multan Sultans, who are said to have problems agreeing on renewal terms. The value of the Sultan’s franchise has dropped since they entered into the PSL in 2018, when it was worth PKR 1.1 billion (USD 3.89 million) to approximately PKR 850 million (USD 3 million).

According to the new terms, the Sultans are to renew the franchise rights at their original price, leading to disagreement between the owner, Ali Tareen, and the PCB. Tareen has already complained about the renewal process and threatened to sue over the valuation issue.

Karachi Kings' Franchise Fee and Growth Comparison

However, the same cannot be said about the Karachi Kings, which was the most costly franchise at the inception of PSL in 2016. In the initial value, they were PKR 440 million (USD 1.56 million); today, they are only slightly lower than PKR 800 million (USD 2.27 million). As a result, the annual renewal fee of the Kings will be approximately PKR 640 million ( USD 2.27 million), which is substantial, yet not as high as the growth of other franchises, like the Lahore Qalandars.

PSL Expansion and Two New Teams

In future, the PSL is expected to increase with the addition of two other teams in the coming season. The naming of these teams is yet to be determined, but a bidding procedure is likely to be held at the beginning of next year. The growth should increase the profile of the PSL and create more competition in the league.

The inclusion of new teams further emphasises the PSL expansion as one of the most popular T20 leagues globally. It also highlights the league’s ability to attract investment and expand its influence in the global cricketing world community.