While the remaining franchises have yet to publicly confirm renewal, it is expected that all, barring Multan Sultans, will ultimately do so
Lahore Qalandars‘ owners, Sameen Rana and Atif Rana, have agreed to renew their rights to the franchise for another 10 years. The reigning champions and three-time winners became the first of the six PSL teams to publicly confirm their acceptance of a re-evaluation conducted by the Pakistan Cricket Board.
The announcement ends mild uncertainty over the ownership status of what is considered the PSL’s most expensive franchise. While neither the Qalandars nor the PCB revealed the exact figure of any team, ESPNcricinfo understands the Qalandars have been valued by EY-MENA, the financial organisation tasked with assessing each PSL side’s worth, at approximately PKR 980 million (Approx USD 3.47 million) per year.
But that is not the amount Qalandars’ current owners will have to pay. After new terms around the renewals, team owners will need to pay the old value – about PKR 425 million (Approx $1.5 million) in the Qalandars’ case – plus 25% of the new valuation. It means Sameen and Atif Rana will pay about PKR 670 million (approx. $2.37 million) as an annual franchise fee. Had new owners come in, they would’ve paid the market valuation, so about PKR 300 million (approx $1.06 million) more.