Peshawar Zalmi renew PSL franchise agreement for next 10 years: PCB

LAHORE: The Pakistan Super League (PSL) franchise Peshawar Zalmi has renewed its agreement for the coming 10 years, the Pakistan Cricket Board (PCB) confirmed on Monday.

According to the cricket board, the 2017 champions’ owners were among the first of the six existing franchises to renew their contracts as per the market value, determined after the valuation process. “The franchise rights for one of the most recognisable and influential teams in the HBL PSL, Peshawar Zalmi, will remain with their current owners for the next decade following the renewal of their franchise agreement on Monday,” the PCB said in a statement.

“The owners of the 2017 champions were among the first to extend their franchise agreement at the market value determined by Ernst & Young – after a comprehensive and transparent valuation process,” it added. PCB Chairman Mohsin Naqvi welcomed the development, stating that he was delighted that Zalmi will continue under the leadership of Javed Afridi, lauding the latter’s commitment, professionalism and passion as fundamental in the elevation of the franchise. “I am delighted that Peshawar Zalmi will continue under the leadership of Javed Afridi, whose commitment, professionalism and passion have played a fundamental role in elevating the Zalmi brand into one of the most dynamic and admired sporting entities in Pakistan,” Naqvi said in a PCB-released statement. “Javed Afridi’s vision has not only strengthened the Zalmi franchise but has also contributed immensely to the growth of the HBL PSL. His decision to renew reflects a strong belief in the league’s future potential and continued success. “The PCB looks forward to building on this partnership as we collectively work towards further advancement of Pakistan cricket.” For the unversed, the PCB finalised the independent valuation process for the PSL franchises and other commercial assets earlier this month. Following the completion of the process, the cricket board issued renewal offer letters to all compliant PSL franchises, detailing the revised franchise fees for the upcoming 10-year cycle. Franchises were asked to respond within the specified deadline. To ensure transparency and provide complete clarity on the valuation process, the board arranged both joint and individual meetings between franchise officials and the independent valuer, EY MENA. Notably, besides the renewal of the contracts of the six existing franchises, the upcoming 11th edition of the marquee league would mark the additions of the new teams, the representative teams for which are yet to be finalised. Meanwhile, the PCB also received valuation reports for two new PSL teams. Interested bidders will be able to select from the following shortlisted city names. Staff Report