Quetta Gladiators extend PSL franchise contract for next decade
Gladiators become third team to renew PSL franchise contract, joining Qalandars and Zalmi
LAHORE: 2019 champions Quetta Gladiators have renewed their Pakistan Super League (PSL) franchise contract for the next 10-year cycle, the Pakistan Cricket Board (PCB) announced on Monday.
According to the cricket board, the franchise "formally" renewed its contract earlier today at the newly assessed valuation, which was set following a comprehensive evaluation carried out by a globally recognised audit and advisory organisation.
As a result, the franchise will remain in the ownership of renowned cricketing figure in the country, Nadeem Omar, for the next years.
"The HBL PSL is delighted to confirm that Quetta Gladiators will continue under the stewardship of their current owners for the next decade, as the franchise has formally renewed its long-term agreement on Monday," the PCB said in a statement.
"The ownership of Quetta Gladiators has renewed the franchise agreement at the newly assessed valuation, which was set following a comprehensive evaluation led by Ernst & Young, a globally renowned audit and advisory organisation," it added.
Reacting to the development, PCB Chairman Mohsin Naqvi expressed his delight and lauded Omar, whom he described as a "thorough gentleman" for playing a pivotal role in building a "loyal fan base".
Naqvi further vowed to deepen the partnership with the Gladiators' owner to elevate Pakistan Cricket to new highs.
"I am delighted that Quetta Gladiators will continue their journey with their current owners for another decade. Mr. Nadeem Omar and his team have played a vital role in building a loyal fan base and elevating the franchise’s stature both locally and internationally," Naqvi was quoted as saying by the PCB.
"Mr. Nadeem Omar is a thorough gentleman, professional and a cricket aficionado. His renewed commitment speaks volumes about their faith in the HBL PSL’s upward trajectory and the league’s global standing. We look forward to deepening this partnership and working together to achieve even greater milestones for Pakistan cricket."
It is pertinent to mention that Gladiators have become the third PSL franchise to renew their contract for the next 10-year cycle, joining Lahore Qalandars and Peshawar Zalmi.
The announcements of the PSL franchise contracts renewals come after the PCB finalised the independent valuation process 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 renewing the contracts of the six existing franchises, the upcoming 11th edition of the marquee league will mark the addition of new teams, the representative teams for which have 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:
Comments