On Monday, 25 November 2025, the Pakistan Cricket Board and the Karachi Kings officials declared that the franchise rights of one of the most widely followed & prominent franchises of the Pakistan Super League. Karachi Kings is going to stay with its existing owners. The Karachi Kings renews their contracts for the next 10 years with the Pakistan Cricket Board (PCB). The champions of PSL season 5 played in 2020, Karachi Kings were the fourth PSL franchise to renew their franchise contract with PCB for the next 10 years from 2026 to 2035.
Their franchise contract was done at the market value, determined by Ernst & Young, one of the most respected & credible audit firms, after a transparent & inclusive process of valuation. When we talk about the financial model under the new agreement of this renewal process, was also converted to Pakistani Rupees from USD.
The franchises have to obey the order and exact renewal fees are not publicly disclosed by this franchise along with the Pakistan Cricket Board (PCB). According to sources, the new annual franchise fee for Karachi Kings is 64 Crores PKR (Rs. 640 million) with a notable increase of 43% from their previous annual franchise fees.
The Pakistan Super League’s 5 champions, Karachi Kings, become the second most expensive franchise of PSL with these new renewal fees for the next decade. With among the 5 PSL franchises that renewed their agreement for a decade of journey. In the previous decaded of PSL, KK was the most expensive franchise of this exciting cricket league, which has now slipped to second in the list as LQ takes the top position.
Salman Iqbal, the owner of the Karachi Kings & ARY media group, expresses his thoughts by a Tweet on X (formerly known as Twitter). He said, “A decade ago, we made a promise to help bring cricket back to Pakistan. Today, I am proud to say that we have officially renewed the franchise rights of Karachi Kings for the next 10 years (2026-2035).
This is not just a renewal; it is a recommitment to the vision that built the Pakistan Super League. From being the most expensive PSL franchise in 2015 to being a pillar of Pakistani cricket, our journey is devoted to the growth of the league. The mission continues, Karachi Kings (KK) will keep setting the standard for talent, for passion, and for the excellence of our fans.”
The PCB Chairman, Mohsin Naqvi, said, “It is a pleasure to announce that Karachi Kings will continue with their current owners for the next decade. Mr. Salman Iqbal & his team have played an important role in lifting the stature of the Pakistan Super League and in building a franchise that commands a passionate following across the country and beyond. Their decision to renew the agreement shows the durable strength & potential of this cricketing league.
“The PSL franchise, Karachi Kings, has consistently contributed to the growth of the league and to the promotional activities of cricket in Pakistan. We look forward to firming up this partnership and furtheradvancing our shared vision for the expansion of the game.”
PSL CEO, Salman Naseer, said: “Karachi Kings (KK) have been an integral part of the journey of PSL, bringing energy, excellence and ambition to the league after every season. We are delighted to continue working with Mr. Salman Iqbal and his management over the next ten years and hope that he keeps contributing beyond the call of duty.
“Their belief in the HBL PSL & their hard work in promoting cricket and developing talent are extremely appreciated. We are thrilled about this renewed partnership and the bright future it promises for both Karachi Kings and the Pakistan Super League.”
The Pakistan Cricket Board (PCB) issued offer letters of contract renewal to all compliant franchises of the Pakistan Super League, mentioning the details of the revised franchise fees for the upcoming 10-year cycle from 2026 to 2035. Following the completion of the renewal process, and franchises were asked to respond within the deadline.
The Pakistan Cricket Board arranged both individual and joint meetings between the independent valuer, Ernst & Young MENA, and the officials of PSL franchises to ensure transparency and provide complete clarity on the valuation process.
The two new franchises are going to be a part of the Pakistan Super League from the upcoming eleventh edition of PSL. With the addition of two new teams, the PSL will now have eight teams to compete, which were only 5 in the first two editions of the tournament in 2016 and 2017 whereas the 6th franchise was also added in the third edition in 2018.