The franchise rights for one of the most prominent and widely followed teams of the HBL Pakistan Super League, 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 HBL 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, according to a PCB statement.

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.

Expressing delight at the development, PCB Chairman Mohsin Naqvi said, “It is a pleasure to announce that Karachi Kings will continue with their existing owners for another 10 years. 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. 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.”

Karachi Kings lifted their maiden HBL PSL title in 2020 and remain one of the league’s most recognisable and commercially influential franchises.