PSL Founding Franchises Renew Ownership for 10 More Years; Multan Sultans Decline Extension

The Pakistan Super League (PSL) has secured long-term continuity among its original franchises, with the owners of Quetta Gladiators, Karachi Kings and Islamabad United confirming they will extend their ownership rights for another ten years. Their announcements follow earlier confirmations from Lahore Qalandars and Peshawar Zalmi, meaning all five founding franchises have opted to stay on.

However, shortly after Islamabad United confirmed their renewal, Multan Sultans owner Ali Tareen revealed he would not be extending his ownership of the franchise, leaving the PSL with the task of finding new ownership ahead of the next season.

Expected Renewals, New Valuations

The extensions were widely expected, particularly given the financial terms tied to renewal. Under the rules, existing owners must pay the old franchise value plus 25% of the new valuation.

Karachi Kings, initially the most valuable franchise in 2016, saw the smallest percentage increase in valuation over the years. Their value has risen from PKR 440 million (US$1.57m) in 2016 to about PKR 790 million (US$2.8m). Their renewed annual fee will be around PKR 640 million (US$2.3m) — placing their market value below that of Lahore Qalandars and Multan Sultans, and only slightly above Quetta Gladiators.

Kings owner Salman Iqbal said the renewal was part of a long-term commitment:
"A decade ago, we made a promise to help bring cricket back to Pakistan. Today, I am proud to announce that we have officially renewed Karachi Kings' franchise rights for the next 10 years! This isn't just a renewal; it's a recommitment to the vision that built the HBL PSL."

Quetta and Islamabad Confirm Renewals

Quetta Gladiators, despite having the lowest market value among the five, have recorded the largest growth since the PSL launched. Their valuation has climbed from PKR 187 million (US$660,000) in 2016 to around PKR 690 million (US$2.45m) today, bringing their annual retention fee to approximately PKR 360 million (US$1.28m).

Islamabad United have also renewed, with their market valuation rising from PKR 255 million (US$910,000) in 2016 to about PKR 860 million (US$3.06m). Owner Ali Naqvi will now pay around PKR 470 million (US$1.67m) annually.

Next Steps: Three Ownership Slots to Resolve

With two new teams set to join the league ahead of the 2026 PSL season—scheduled between March and May 2026—and Multan Sultans opting out, the PCB must identify new ownership for three teams before the draft for the competition’s 11th edition can begin.

The upcoming ownership decisions will play a significant role in shaping the league’s next decade as the PSL prepares for expansion and restructuring.