The three remaining original Pakistan Super League franchises yet to make their intentions public – Quetta Gladiators, Karachi Kings and Islamabad United – have all confirmed fresh ten-year agreements with the Pakistan Cricket Board.
Their decisions mean the five clubs who kicked off the league in 2016 will stay under the same ownership until at least 2036. Lahore Qalandars and Peshawar Zalmi announced their own renewals earlier in the month, while Multan Sultans, added in 2018, will now head to market after owner Ali Tareen opted not to extend.
Karachi’s numbers draw most attention. Bought for PKR 440 million in 2016 (around US$1.57m), the Kings are now valued at roughly PKR 790 million (US$2.8m). Under the retention formula – the previous price plus 25% of the new valuation – Salman Iqbal’s group will pay about PKR 640 million (US$2.3m) each year.
“A decade ago, we made a promise to help bring cricket back to Pakistan,” Iqbal posted on X. “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 Gladiators, who played the 2025 final, remain the league’s most economical buy yet have shown the sharpest rise in worth: from PKR 187 million (US$660,000) at inception to about PKR 690 million (US$2.45m) today. Their annual fee therefore climbs to roughly PKR 360 million (US$1.28m). An executive close to the deal called that “a fair reflection of Quetta’s steady on-field progress and strong fan base”.
Islamabad United nudge ahead of Karachi on paper, with a present valuation of PKR 860 million (US$3.06m), up from PKR 255 million (US$910,000) nine years ago. Owner Ali Naqvi’s yearly outlay will sit near PKR 470 million (US$1.67m). “We were clear from the outset,” Naqvi told local radio on Monday. “The PSL is central to our cricket project, and Islamabad United’s identity is tied to it.”
League administrators now turn to two new licences, scheduled to debut in the expanded eight-team competition set for March–May 2026. Coupled with Multan’s open slot, three ownership positions must be finalised before player draft plans firm up later next year.
A senior PCB official, who asked not to be named, admitted the timetable is “busy but manageable”, adding: “The original franchises reaffirming their commitment gives comfort to broadcasters and sponsors. Our focus now is making sure any new partners share that long-term view.”
For supporters, little changes immediately: the familiar line-ups return next season, and the business of squad retention, marquee signings and strategic tinkering will soon dominate chatter. Yet the financial recalibration hints at a maturing league where historical performance, market size and fan engagement are being weighed more evenly than during the frenetic early auctions.
