The Pakistan Super League stands at a critical juncture as preparations for a new 10-year franchise cycle enter final stages, with the Pakistan Cricket Board’s emphasis on “eligible franchises” sparking speculation about significant ownership changes. The board’s recent statement following completion of an independent valuation process has intensified uncertainty around which current franchises will secure renewed contracts for the next decade.
EY MENA Completes Comprehensive Valuation
In an official statement issued on Sunday, October 27, 2025, the PCB confirmed that representatives from global accounting firm EY MENA met with Chairman Mohsin Naqvi in Lahore to present the long-awaited PSL valuation report. The high-level meeting included PSL CEO Salman Naseer and PCB COO Sumair Ahmed, who received briefings on the league’s current market assessment and future growth projections.
EY MENA is expected to submit final valuations “within a few days” according to PCB statements. The valuation process, initiated through a public tender in July 2025 and awarded to the global professional services firm in August, was expected to be completed within five weeks of commencement.
“Eligible Franchises” Language Raises Questions
The PCB made it clear that contracts would only be renewed with “eligible franchises,” a phrase that hints at possible exclusions. This specific terminology has raised eyebrows across Pakistan’s cricket community, particularly given ongoing tensions between the board and certain franchise owners.
“Existing franchise teams who are in compliance of the terms of their franchise agreement will be offered the right to renew for a period of 10 years,” the official statement read. The emphasis on compliance suggests that franchises perceived as violating their existing contracts may face exclusion from the renewal process.
Multan Sultans Controversy Takes Center Stage
The “eligible franchises” phrase has particular significance given the escalating conflict between the PCB and Multan Sultans. The franchise was accused by the PCB of violating several clauses listed in its 10-year contract, with the board issuing a suspension notice last week citing “breach of contractual obligations.”
Sultans’ owner Ali Tareen has refused to back down from a legal battle with the PCB, fueling speculation that the franchise may not be allowed to continue under his ownership even if he bids for the revised rights. Tareen’s repeated public criticism of the board and PSL management prompted disciplinary action that sources say could include franchise termination.
The PCB accused the franchise of running a campaign to devalue the cricket league ahead of its 10th edition, which was seen as an attempt to decrease its valuation for the next 10 years. Furthermore, the franchise is also accused of not cooperating with the valuation company as a delaying tactic.
Ali Tareen’s Defiant Response
The confrontation escalated dramatically when Tareen released a video on social media, holding what appeared to be the PCB’s legal notice before tearing the document apart on camera. His act, both defiant and performative, electrified social media and divided fans and stakeholders.
“The PCB’s notice threatens termination of our franchise agreement and a lifetime blacklist of Mr Tareen,” a Multan Sultans statement said. “Every statement he has made has been in the best interest of the PSL, urging the league to aim higher and do better. Silencing honest feedback is not how great leagues are built.”
Current Franchise Contracts Expiring
The existing six franchise contracts are set to expire in December 2025, marking the end of the PSL’s first 10-year cycle since its launch in 2015. This creates urgency around finalizing new agreements before the current arrangements lapse.
Following the EY MENA presentation, Chairman Naqvi directed PSL management to meet franchise owners and finalize the new contracts at the earliest. The tight timeline creates pressure on all parties to resolve outstanding disputes quickly or face franchise changeovers.
League Expansion to Eight Teams
Significantly, the PCB confirmed that the number of teams is expected to increase from six to eight under the new structure, signaling the PSL’s biggest expansion since inception. This expansion creates opportunities for new investors while potentially allowing the board to replace problematic existing franchises.
The addition of two new franchises represents major growth for Pakistan’s premier T20 competition. PSL CEO Salman Naseer spoke confidently about expansion plans during a recent podcast, calling PSL 11 “the biggest yet” and confirming plans to include six venues, incorporating the long-delayed Imran Khan Stadium in Peshawar.
New Valuation-Based Contract Model
The new contract values, the board said, will be determined solely on the basis of EY MENA’s independent report to ensure transparency and competitiveness. This represents a departure from previous negotiated arrangements, introducing market-based pricing for franchise rights.
When the PSL launched in 2015, Karachi Kings were sold for $2.6 million annually, Lahore Qalandars for $2.5 million, Peshawar Zalmi for $1.6 million, Islamabad United for $1.5 million, and Quetta Gladiators for $1.1 million. In 2017, Multan Sultans entered with an annual fee of $6.35 million, setting a record.
25% Markup Requirement
Reportedly, all six teams will be required to pay a 25% markup on top of the new valuation fees determined by EY MENA to secure rights for the next decade. If current owners refuse, not just Multan but other teams could also see ownership changes.
This markup requirement adds financial pressure on existing franchises, potentially pricing out some current owners while creating opportunities for new investors with deeper pockets to enter Pakistan’s cricket market.
Governance Concerns Exposed
At the heart of the controversy lies a structural flaw that has long plagued the PSL: its lack of independent governance. The PCB’s dual role as both league operator and regulatory authority creates inherent conflicts of interest when disputes arise with franchises.
With the first 10-year franchise contracts expiring, uncertainty over valuations, expansion, and revenue-sharing has eroded confidence among stakeholders. Tareen’s public tweet accusing the board of withholding distributions for the last two seasons adds fresh layers of mistrust to already fraught relations.
Timing and Strategic Implications
The timing of the PCB’s announcement—just as the Multan dispute dominated headlines—was read by many as a signal that the board intends to proceed with renewal and expansion plans undeterred by ongoing friction. This suggests the PCB feels confident in its legal position and willingness to replace non-compliant franchises.
For prospective new franchise owners, the current turmoil creates both opportunity and caution. While entry into the PSL offers access to Pakistan’s massive cricket market, the governance disputes raise questions about the stability and predictability of the league’s operating environment.
Commercial Growth and Future Sustainability
By engaging an independent global leader like EY MENA, the PCB aims to ensure absolute transparency and fairness in determining the fair market value of franchises and commercial rights. The PSL attracted over 980 million TV viewers and 144 million digital engagements during the 2025 season according to PCB reports, demonstrating significant commercial growth.
“As we look toward the renewal cycle and addition of new team(s), this process will give current and prospective stakeholders complete confidence in the league’s growth trajectory and long-term sustainability,” PSL CEO Salman Naseer stated.
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Looking Ahead
As the PSL moves into its second decade, the combination of new ownership possibilities, team expansion, and a market-driven contract model sets the stage for what could be the most transformative phase in the league’s history. However, with legal trouble already looming and fractured relationships between the board and key franchises, the next chapter of the Pakistan Super League is starting on a controversial note.
The coming weeks will determine whether the PSL’s renewal process represents evolution toward professional league governance or further deterioration of relationships between Pakistan’s cricket board and the private investors whose capital sustains the country’s premier T20 competition.
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