HBL retains PSL title sponsorship till 2025

Published November 19, 2021
It is learnt that Habib Bank Limited signed the new deal with the PCB for an amount of $22.2 million for four years. — Photo courtesy PSL website
It is learnt that Habib Bank Limited signed the new deal with the PCB for an amount of $22.2 million for four years. — Photo courtesy PSL website

LAHORE: The Pakistan Super League has received a major boost from Habib Bank Limited which has reacquired the title sponsorship of Pakistan Cricket Board’s pinnacle tournament for another four-year cycle (2022-2025).

The bank has been title sponsors of the PSL since its start in 2016.

“HBL not only exceeded the reserve price in reacquiring the rights but sealed it with a 55 per cent jump from the last cycle, which speaks volumes of their belief in the PSL brand,” a PCB press release stated on Thursday.

Though the PCB did not mention the exact amount, it is learnt the bank signed the new deal with the PCB for an amount of $22.2 million for four years. Last time, the PCB signed the deal for three years from 2019 to 2021 for $14.5 million. The worth of the first deal (2016-2018) was $5.2 million.

“HBL earned title sponsorship rights following a public tender process in which seven interested parties had collected the bid documents.”

Meanwhile commenting on the development, PCB chairman Ramiz Raja said: “I am delighted that the HBL has further strengthened its bond and relationship with the PCB by committing to support the PSL for another four years. Reality is that HBL, in fact, has been investing in the future stars of Pakistan cricket through PSL for which we are eternally grateful.”

HBL chief operating officer Sagheer Mufti said: “HBL is pleased to renew its commitment to Pakistan’s largest sporting platform, PSL, for a further four years. This will mark HBL’s support for this national initiative for 10 years, since its inception in 2016. HBL remains committed to playing its part in promoting Pakistan and cricket.”

Published in Dawn, November 19th, 2021

Opinion

Editorial

Little respite
03 Mar, 2024

Little respite

IS inflation on its way out? The Consumer Price Index showed that inflation dropped to 23.1pc in February from ...
More slaughter
Updated 03 Mar, 2024

More slaughter

Israel’s extremist leaders are on an apocalyptic mission to ethnically cleanse Gaza.
Without VCs
03 Mar, 2024

Without VCs

THE delay in appointing vice chancellors across Pakistan’s universities has mushroomed into a crisis, with one...
Urgent challenge
Updated 02 Mar, 2024

Urgent challenge

The incoming finance team will have to prioritise economic decisions over political considerations and personal whims.
Contempt ruling
02 Mar, 2024

Contempt ruling

AN Islamabad High Court decision penalising the city’s deputy commissioner, a senior superintendent of police and ...
Streets of death
02 Mar, 2024

Streets of death

A LIFE without a sense of permanence is one aspect of a human crisis as complex as homelessness. But the fact that...