In a major development for the Pakistan Super League 2026, five of the six existing franchises have confirmed their renewal for the next ten-year cycle, while Multan Sultans remain the only team not to extend their contract.
Following their exit, Multan Sultans are expected to undergo a change in ownership, with the PCB likely to sell the franchise rights to a new party through a fresh tender. At the same time, a separate tender has been issued to introduce two new teams, raising the total to eight franchises for a tournament expected to be played in April and May 2026.
The franchises that have renewed include Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators, Karachi Kings and Islamabad United. All five have agreed to revised annual fees following an independent league valuation carried out by auditors E&Y MENA.
According to the latest valuation, Lahore Qalandars are now the most valuable team in the PSL, reflecting their rising commercial strength, expanding fan base and strong brand identity.
PCB officials welcomed the renewals, noting that securing five franchises for the next decade provides stability and continuity. They added that the long-term commitment strengthens the PSL’s position as a globally recognised T20 league capable of attracting international players, investors and sponsors.
“It gives me immense pleasure that Lahore Qalandars will continue with its current owners,” PCB Chairman Mohsin Naqvi said. “Atif Rana and Sameen Rana have worked extremely hard to turn this franchise into a household name across Pakistan and a reputable brand around the world.
“Their decision is a testament to their confidence in the power and pull of the HBL PSL. Lahore Qalandars have consistently contributed to the development and promotion of the HBL PSL and cricket across the country. The PCB looks forward to sustaining this partnership and advancing our shared objectives for the growth of the game.”
With most teams recommitting, the PSL now prepares for its next phase of growth, with Lahore Qalandars leading the way as the most valuable franchise, and opportunities opening for new entrants to join the league in the coming seasons.
While other franchises were confirming their renewals, Multan Sultans owner Ali Tareen took to social media to bid farewell to the team he has owned for seven years. Tareen said he had not received the renewal documents, reportedly due to his public criticism of league management, which the PCB said had damaged the league’s reputation.
In his statement, Tareen wrote, “I would rather lose the team standing on my feet than run it from my knees.” His comments pointed to ongoing tensions with league management and hinted at disagreements with other franchise owners. “Being part of this team has been one of the greatest honours of my life. Despite financial losses year after year, I never once considered walking away. The Sultans have always meant more to me than just numbers, and I have always been willing to go as far as necessary to protect it.”
The PSL, which began in 2016, has developed into one of the most competitive T20 leagues in world cricket. Lahore Qalandars and Islamabad United currently lead the honours list with three titles each, while Karachi Kings, Quetta Gladiators, Peshawar Zalmi and Multan Sultans have all won the league once.
Following their exit, Multan Sultans are expected to undergo a change in ownership, with the PCB likely to sell the franchise rights to a new party through a fresh tender. At the same time, a separate tender has been issued to introduce two new teams, raising the total to eight franchises for a tournament expected to be played in April and May 2026.
The franchises that have renewed include Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators, Karachi Kings and Islamabad United. All five have agreed to revised annual fees following an independent league valuation carried out by auditors E&Y MENA.
According to the latest valuation, Lahore Qalandars are now the most valuable team in the PSL, reflecting their rising commercial strength, expanding fan base and strong brand identity.
PCB officials welcomed the renewals, noting that securing five franchises for the next decade provides stability and continuity. They added that the long-term commitment strengthens the PSL’s position as a globally recognised T20 league capable of attracting international players, investors and sponsors.“It gives me immense pleasure that Lahore Qalandars will continue with its current owners,” PCB Chairman Mohsin Naqvi said. “Atif Rana and Sameen Rana have worked extremely hard to turn this franchise into a household name across Pakistan and a reputable brand around the world.
“Their decision is a testament to their confidence in the power and pull of the HBL PSL. Lahore Qalandars have consistently contributed to the development and promotion of the HBL PSL and cricket across the country. The PCB looks forward to sustaining this partnership and advancing our shared objectives for the growth of the game.”
With most teams recommitting, the PSL now prepares for its next phase of growth, with Lahore Qalandars leading the way as the most valuable franchise, and opportunities opening for new entrants to join the league in the coming seasons.
While other franchises were confirming their renewals, Multan Sultans owner Ali Tareen took to social media to bid farewell to the team he has owned for seven years. Tareen said he had not received the renewal documents, reportedly due to his public criticism of league management, which the PCB said had damaged the league’s reputation.
In his statement, Tareen wrote, “I would rather lose the team standing on my feet than run it from my knees.” His comments pointed to ongoing tensions with league management and hinted at disagreements with other franchise owners. “Being part of this team has been one of the greatest honours of my life. Despite financial losses year after year, I never once considered walking away. The Sultans have always meant more to me than just numbers, and I have always been willing to go as far as necessary to protect it.”
The PSL, which began in 2016, has developed into one of the most competitive T20 leagues in world cricket. Lahore Qalandars and Islamabad United currently lead the honours list with three titles each, while Karachi Kings, Quetta Gladiators, Peshawar Zalmi and Multan Sultans have all won the league once.
