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LAHORE: The franchise rights for one of the most prominent and widely followed teams of the Pakistan Super League (PSL), Karachi Kings, will remain with their current owners for the next decade, following the successful renewal of their franchise agreement on Tuesday.
The owners of the 2020 PSL champions have reaffirmed their long-term commitment by extending the agreement at the updated market valuation determined by Ernst & Young, one of the world’s most credible and respected audit and advisory firms.
The renewal highlights the trust that partners continue to place in the HBL PSL’s upward commercial trajectory and solid brand presence, as the league prepares to welcome eight teams from season 11 onward.
“It is a pleasure to announce that Karachi Kings will continue with their existing owners for another 10 years,” said PCB Chairman Mohsin Naqvi.
“Mr. Salman Iqbal and his team have played a pivotal role in elevating the stature of the HBL PSL and in building a franchise that commands a passionate following across the country and beyond.
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“Their decision to renew reflects the enduring strength and potential of the league.
“Karachi Kings have consistently contributed to the league’s growth and to the promotion of cricket in Pakistan.
“We look forward to strengthening this partnership and further advancing our shared vision for the development of the game.”
PSL Chief Executive Officer (CEO) Salman Naseer also lavished praise on the management and owners of Karachi Kings for collaborating and extending the partnership for the next 10 years.
“Karachi Kings have been an integral part of the HBL PSL’s journey, bringing energy, ambition and excellence to the league season after season,” said Naseer.
“We are delighted to continue working with Salman Iqbal and his management team over the next decade and hope that he continues to contribute beyond the call of duty.
“Their belief in the HBL PSL and their efforts in promoting cricket and nurturing talent are deeply appreciated.
“We are excited about this renewed partnership and the bright future it promises for both Karachi Kings and the league.”
Karachi Kings lifted their maiden PSL title in 2020 and remain one of the league’s most recognisable and commercially influential franchises.
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