Pakistan Super League (PSL) outfits Lahore Qalandars, Peshawar Zalmi and Quetta Gladiators have renewed their franchise rights for another 10 years, the country’s cricket board announced on Monday.

The agreements, finalised at market valuations determined by global audit firm Ernst & Young after what the Pakistan Cricket Board (PCB) described as a “comprehensive and transparent assessment”, come ahead of the league’s expansion to eight teams from its 11th edition next year.

Lahore Qalandars — the PSL’s most valuable franchise and winners of three of the last four editions under Pakistan ODI captain Shaheen Shah Afridi — were among the first to extend their rights.

“It gives me immense pleasure that Lahore Qalandars will continue to stay with its current owners,” PCB chairman Mohsin Naqvi said in a statement.

“[Qalandars owners] Atif Rana and Sameen Rana have worked extremely hard to turn this franchise into a household name across Pakistan and a reputable brand around the world.”

Peshawar Zalmi, one of the league’s most recognisable brands and champions in 2017, also renewed their decade-long rights on Monday.

Led by owner Javed Afridi, the franchise has cultivated one of the strongest fan bases in the league and was the most-watched team during the last PSL season, said the PCB.

Mohsin lauded Javed’s “commitment, professionalism and passion”, saying his leadership had “played a fundamental role in elevating the Zalmi brand into one of the most dynamic and admired sporting entities in Pakistan”.

“Javed Afridi’s vision has contributed immensely to the growth of the HBL PSL,” he added. “His decision to renew reflects a strong belief in the league’s future potential.”