Lahore Qalandars, Peshawar Zalmi Extend PSL Ownership Rights for Another Decade

Lahore Qalandars and Peshawar Zalmi have officially renewed their Pakistan Super League (PSL) franchise ownership rights for the next ten years, becoming the first teams to publicly confirm their agreements following a fresh valuation process overseen by the Pakistan Cricket Board (PCB).

Lahore Qalandars, owned by Sameen Rana and Atif Rana, accepted the PCB’s renewal terms after an independent valuation by EY-MENA placed the franchise’s annual worth at approximately PKR 980 million (USD 3.47 million). Despite the steep valuation, the revised renewal structure means existing owners will continue paying the old franchise fee — around PKR 425 million — plus 25% of the new valuation. This brings Qalandars’ new annual fee to nearly PKR 670 million (USD 2.37 million). New buyers, by contrast, would have been required to pay the full market valuation.

In a statement, the franchise said the valuation reinforced Lahore Qalandars’ status as the league’s most valuable team, crediting their on-field success and organisational strength.

Shortly after the Qalandars’ announcement, Peshawar Zalmi owner Javed Afridi confirmed his franchise had also agreed to a ten-year renewal. Zalmi’s new valuation came to roughly PKR 870 million (USD 3.1 million), a significant jump from the PKR 270 million (USD 956,000) figure assigned in 2016. Afridi will now pay an annual fee of about PKR 500 million (USD 1.8 million).

“Retaining our franchise rights for the next ten years is both an honour and a responsibility,” Afridi said, pledging to expand the team’s ambitions and contribution to Pakistan cricket.

Among the remaining franchises, Multan Sultans are the only side not expected to renew under the current terms. The team’s value has dropped from its original PKR 1.1 billion (USD 3.89 million) annual fee to a revised valuation of PKR 850 million (USD 3 million), making it the only PSL franchise to depreciate. Under PCB rules, Sultans would need to pay their old — and higher — valuation plus an additional 25% to retain ownership, a requirement that owner Ali Tareen has publicly criticised. The team was not included in the initial renewal offers sent to other franchises, prompting Tareen to threaten legal action.

Elsewhere, the Karachi Kings’ value has risen modestly to just under PKR 800 million, meaning owner Salman Iqbal would pay close to PKR 640 million (USD 2.27 million) to renew. The Kings were originally the most expensive PSL franchise at the league’s inception, with a price tag of PKR 440 million.

The PCB is also preparing to expand the competition by adding two new teams ahead of next year’s edition. Bidding for the new franchises is expected to begin early next year, with official names yet to be finalised.