Quetta Gladiators and Karachi Kings have renewed their Pakistan Super League (PSL) franchise agreements for another 10 years. Quetta Gladiators’ annual fee has been set at PKR 34 crore, and ownership will remain with Nadeem Omar. Both parties agreed on the new deal after valuation.
PCB Chairman Mohsin Naqvi praised Nadeem Omar for his services to PSL, calling the renewal a sign of growing confidence in the league. Karachi Kings also renewed their 10-year franchise agreement based on the market value set by EY Mina. Naqvi said the move strengthens the league and recognizes Karachi Kings’ key role in raising PSL’s profile.
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PSL CEO Salman Naseer said working with Karachi Kings in the next decade will be an honor. The franchise, 2020 PSL champion, remains one of the most popular teams in Pakistan. Previously, Peshawar Zalmi and Lahore Qalandars had also renewed their franchise rights for the next 10 years.
The original 10-year agreement between PCB and PSL franchises began in 2015 with five teams, later including Multan Sultans. After the first decade, valuations were updated, resulting in increased annual fees: Lahore Qalandars PKR 67 crore, Karachi Kings PKR 64 crore, Peshawar Zalmi PKR 49 crore, Islamabad United PKR 48 crore, and Quetta Gladiators PKR 34 crore. All teams accepted their new contracts.
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Multan Sultans, however, have not yet received a new contract due to ongoing disagreements. This suggests the possibility of new owners entering PSL Eleven in the near future.