The Pakistan Cricket Board (PCB) has raised the valuation of all six existing Pakistan Super League (PSL) franchises to nearly three times their previous prices, and has also set a hefty base price of Rs1.30 billion per year for each of the two new franchises, well-placed sources told Dawn.

The PCB has not yet issued an official announcement regarding the revised valuations, diverging from the practice adopted at the league’s launch in 2016.

However, sources privy to the development said the new prices represent an almost threefold increase. Unlike 2016, when franchise prices were quoted in US dollars, the board has now shifted all league-related financial dealings to Pakistani rupees.

In the inaugural season, Quetta Gladiators — champions of the 2019 edition — were the lowest-valued franchise with an annual fee of USD 1.1 million for a 10-year ownership period. At the time, the exchange rate stood at Rs105 per dollar, compared to over Rs280 today.

According to sources, Quetta Gladiators once again carry the lowest valuation among the existing teams, now priced at around Rs360 million per year.

The valuation of Peshawar Zalmi — winners of the 2017 edition — has climbed to approximately Rs480 million per year, up from their earlier price of USD 1.6 million.

Karachi Kings, the 2020 champions, have been priced at Rs650 million per year compared to their earlier USD 2.6 million valuation.

Lahore Qalandars — winners of the 2022, 2023 and 2025 editions — will now cost Rs670 million per year, marginally higher than Karachi Kings, up from their previous USD 2.5 million valuation.

Multan Sultans, who joined the league after the first two editions and initially held the highest price tag at USD 6.3 million, have received a revised valuation of Rs1.08 billion per year.

The franchise, which clinched the 2021 title, changed ownership earlier after previous owner Ali Tareen publicly criticised the PCB over various administrative matters related to the league. All other franchises have retained their ownership rights for the next 10 editions.

Sources added that the PCB has not increased the annual player budget for the franchises, which remains capped at USD 1.4 million per team.

The PCB has held a roadshow in London to attract investors for the two new franchises as well as for Multan Sultans.

The board has shortlisted six cities — Rawalpindi, Faisalabad, Sialkot, Hyderabad, Muzaffarabad and Gilgit — from which two will be finalised to expand the PSL to eight teams. Despite the international roadshow, the PCB has no plans to hold similar events domestically to draw local investors.

However, the board announced on Wednesday that it is going to host a roadshow in New York City on Saturday.

According to a PCB press release, the New York event is part of the board’s global outreach strategy to engage international investors ahead of the auction of two new PSL franchises, scheduled January 6 next year.

The initiative is intended to showcase the league’s commercial strength, global following, and long-term growth potential.

Six Pakistan men’s team players are set to participate in the USA event, including T20I captain Salman Ali Agha, along with Abrar Ahmed, Faheem Ashraf, Saim Ayub, Shan Masood, and Saud Shakeel.