Another 10 More Years: Lahore Qalandars Extend PSL Ownership Rights

Pakistan Super League (PSL)’s most successful franchise, Lahore Qalandars, have agreed to renew their contract for the next 10 years, on November 24 (Monday). Qalandars are the most successful franchise, with three PSL titles next to their name.

According to ESPNCricinfo, the Qalandars are the first of the six PSL franchises to agree to PCB’s re-evaluation publicly. It clears any doubts that surrounded the franchise’s status in the league. 

Not only that, the publication also revealed that the Qalandars are approximately valued at PKR 980 million (approximately USD 3.47 million) per year, making them the largest franchise in the league.

"The franchise has accepted the PCB's renewal offer to continue as a PSL team for the next 10 years," Qalandars said in a media release, reported ESPNCricinfo.

"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 Qalandars will have to pay PKR 670 million annually to renew their ownership of the franchise, PKR 300 million less than a new franchise would have to pay.