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The Pakistan Cricket Board (PCB) has officially transitioned all financial transactions with PSL franchises from dollars to Pakistani rupees, aiming to eliminate the risks associated with currency fluctuations that have affected franchise finances for nearly a decade.
When the league launched in 2016, contracts were dollar-denominated, Lahore Qalandars’ annual franchise fee, for example, was USD 2.5 million per year, or PKR 26.5 crore at the 105 PKR/USD rate. By 2019, rising exchange rates increased this to PKR 43.75 crore, prompting the PCB to cap the rate at PKR 175 per dollar, even as the actual rate rose to PKR 281.
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After a recent audit and franchise revaluation, three teams, Lahore Qalandars, Quetta Gladiators, and Peshawar Zalmi renewed their PSL rights for another decade. Fee increases are estimated between 45% and 90%, placing Lahore’s new annual fee at about PKR 66 crore (though board confirmation is pending), which aligns closely with a new PKR-denominated contract that would approximate the USD value at current rates.
Multan Sultans remain the league’s highest fee franchise, reportedly paying USD 6.35 million annually, but have not yet agreed to renewal terms following a dispute with PCB. Legal action is possible if negotiations remain stalled.
Looking forward, the PCB has confirmed the auction for two new PSL teams will be held January 6, 2026, with potential cities including Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit. All existing franchises have been asked to finalize their renewed agreements by late November.
