New PSL franchises start at Rs1.30 billion annually
New PSL franchises start at Rs1.30 billion annually: In a dramatic financial overhaul, the Pakistan Cricket Board (PCB) has nearly tripled the annual valuation of all six existing Pakistan Super League (PSL) franchises. Furthermore, it has set a formidable entry barrier of Rs1.30 billion per year for each of the two new teams set to join the league, according to sources with knowledge of the matter.
The move signals a bold shift from the league’s 2016 launch strategy, with the PCB opting to revise prices privately and moving all financial dealings from US dollars to Pakistani rupees—a nod to both economic realities and local currency stability.
The Price of Glory: A Team-by-Team Breakdown
The revised valuations paint a clear picture of the league’s growth, though the competitive hierarchy shows interesting shifts. The annual player budget, however, remains frozen at $1.4 million per team.
- Quetta Gladiators (2019 Champions): Retains the lowest valuation at approximately Rs360 million/year, up from $1.1 million.
- Peshawar Zalmi (2017 Champions): Now valued at Rs480 million/year, a rise from $1.6 million.
- Karachi Kings (2020 Champions): Priced at Rs650 million/year, previously $2.6 million.
- Lahore Qalandars (2022, 2023, 2025 Champions): Slightly edges out Karachi at Rs670 million/year, up from $2.5 million.
- Multan Sultans (2021 Champions): Undergoes the most striking recalibration. Once the most expensive at $6.3 million, its new valuation is Rs1.08 billion/year. The franchise, which saw a change in ownership after public disputes with the PCB, is also being offered to new investors.
Global Hunt for New Owners & Cities
The PCB is casting a wide net internationally to attract investment for both the new franchises and the Multan Sultans. After a roadshow in London, the board is now setting its sights on New York City, where a showcase event this Saturday will feature Pakistani stars like T20I captain Salman Ali Agha to pitch the league’s “commercial strength and global following.”
Despite this international push, no similar domestic roadshows are planned for local investors.
The expansion will see the PSL grow to eight teams. The shortlist for the two new franchise cities includes:
Rawalpindi, Faisalabad, Sialkot, Hyderabad, Muzaffarabad, and Gilgit.
The final auction for the two new franchises is scheduled for January 6, 2025, marking the next chapter for Pakistan’s premier T20 competition.
