- With $330m brand value, PSL’s six city-based franchises drive profits, pride and Pakistan’s cricketing resurgence
Sports leagues are organised competition where multiple teams or clubs compete against each other in a specific sport, following a structured format, rules, and schedule. Leagues are designed to create excitement, foster rivalries, and provide a platform for players to showcase their skills while entertaining fans. They also generate significant revenue through ticket sales, broadcasting rights, sponsorships, and merchandise. Sports Leagues are popular because they create a consistent, exciting competition that fans can follow over weeks or months, unlike one-off tournaments. They also drive local pride, as fans rally behind their city’s team, and attract global audiences through star players and high-stakes matches.
Cricket, traditionally dominated by international matches (e.g., Test matches, ODIs, and T20Is between countries), has embraced the league format, particularly with the rise of T20 cricket. T20 is a fast-paced, three-hour format that appeals to modern audiences, making it ideal for franchise-based leagues. The largest Cricket League is Indian Premier League (IPL), launched in April 2008 by the BCCI. It is the richest and most popular cricket league globally, generating over $6 billion annually and valued at $10.7-16.4 billion as of 2023–2024. It features 10 city-based teams, such as Mumbai Indians and Chennai Super Kings, owned by conglomerates and celebrities like Mukesh Ambani and Shah Rukh Khan. Its revenue comes from Media Rights which sold for $6.2 billion for 2023–2027, with each match valued at $13.4 million.
The IPL’s success lies in its innovative business model, blending cricket with entertainment, and its ability to attract a massive Indian and global audience. It has set a blueprint for other cricket leagues but remains unmatched in financial scale.
After the IPL, the Big Bash League (BBL) in Australia is the second largest cricket league in terms of revenue. The BBL generates approximately $60 million annually (More than Rs500 crore), significantly less than the IPL but ahead of other T20 leagues like the Pakistan Super League (PSL $36 million) and SA20 ($12.5 million).
Distinguished, wooing model
Pakistan Super League (PSL): Generates $36 million annually, with a brand value of $330 million. It’s growing but limited by a smaller domestic market and fewer global sponsors. After PSL is SA20, the South Africa’s new T20 league, launched in 2023, earns $12.5 million, with investments from IPL franchise owners but a smaller scale. Then comes Caribbean Premier League (CPL) which earns $10-15 million and Bangladesh Premier League (BPL), which is in the $10-15 million range, as they faces infrastructure challenges, limiting its revenue potential.
The HBL Pakistan Super League (PSL), launched in 2016, is Pakistan’s flagship Twenty20 (T20) cricket league, organised and managed by the Pakistan Cricket Board (PCB). Named after its title sponsor, Habib Bank Limited (HBL), the PSL has become a cornerstone of Pakistani sports, revitalising cricket in a nation passionate about the game. After years of international isolation due to security concerns, the PSL has brought world-class cricket back to Pakistan, featuring six city-based franchise teams that compete in a high-energy, entertainment-driven format. The PCB holds regular workshops with franchise owners to address concerns like revenue sharing, player drafts, and scheduling. For example, a 2023 workshop explored adding new teams, with franchises retaining 95% of central pool revenue, reflecting a collaborative approach. Sponsors like HBL, which signed a $14.3 million deal for title sponsorship from 2022-2024, play a key role in shaping the league’s branding and financial stability.
The PSL’s magnitude is reflected in its financial growth, cultural significance, and international reach, establishing it as a leading T20 league alongside the Indian Premier League (IPL) and Big Bash League (BBL). In 2023, the PSL generated over PKR 5 billion (approximately $18 million USD, using an exchange rate of 1 USD = 278 PKR), with projections of $36 million in annual revenue by 2025. The league’s brand value is estimated at $330 million, driven by broadcasting rights, sponsorships, gate receipts, and merchandise. The PCB secured a $25 million deal for local broadcasting rights with ARY and PTV for 2022-2023, while digital streaming rights for 2024-2025 saw a 113% value increase, reflecting growing global demand. Each PSL match is valued at approximately $1.2 million in media revenue.
HBL’s title sponsorship, alongside deals with brands like Durex, Pepsi, and TCS, contributes significantly. The HBL deal alone added $14.3 million over three years, with additional sponsors boosting the central revenue pool. By 2022, the PCB distributed PKR 900 million ($3.1 million) per franchise from the central pool, enabling profitability for teams like Islamabad United and Quetta Gladiators. The league reported a 71% profit increase in 2022, highlighting its financial maturity.
The PSL stimulates Pakistan’s economy through job creation, tourism, and local business engagement, with an estimated $500 million economic impact since its inception. Indeed, the PSL has revitalised cricket in Pakistan, which faced a decade of isolation after the 2009 attack on the Sri Lankan team. By 2022, all matches were hosted in Pakistan (Karachi, Lahore, Rawalpindi, Multan), restoring national pride and showcasing the country as a safe cricketing destination. With 150 million digital viewers in 2023, the PSL has captured a young, tech-savvy audience, surpassing the IPL’s digital reach at a similar stage.
The PSL attracts international stars like Kieron Pollard, Jason Holder, and Rilee Rossouw, enhancing its global appeal. Over 100 foreign players participated in 2024, with the PCB directly negotiating contracts to ensure participation. Broadcasting in over 50 countries and streaming on platforms like Tapmad and Tamasha has expanded the PSL’s audience, with 980 million social media impressions in 2023. The league’s success has inspired other T20 leagues, positioning Pakistan as a leader in cricket’s franchise-based evolution. The PSL’s magnitude lies in its ability to blend financial success with cultural resonance, making it a vital part of Pakistan’s sporting and social fabric.
The PSL’s franchising model is the backbone of its commercial and competitive structure, distinguishing it from traditional cricket tournaments. By adopting a franchise-based system inspired by the IPL, the PSL has created a dynamic business ecosystem that balances centralized control with private investment.
The PSL comprises six city-based franchises: Karachi Kings, Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, and Multan Sultans. Each team represents a major city or region, fostering local pride and rivalries (e.g., Karachi vs. Lahore). Franchises were sold for 10-year terms in 2015, raising $93 million for the initial five teams. Multan Sultans joined in 2017 for $5.2 million annually, later increasing to $6.35 million under Ali Khan Tareen and Alamgir Tareen after the termination of Schön Properties in 2018.Owners are prominent business figures and celebrities, including Salman Iqbal (Karachi Kings, ARY Group), Javed Afridi (Peshawar Zalmi, Haier Pakistan), and Nadeem Omar (Quetta Gladiators, Omar Associates). Ownership is often a status symbol, enhancing owners’ social and political influence.
The financial model of HBL PSL is also very interesting as the PCB pools revenue from broadcasting (80% to franchises), sponsorships (50% to franchises), gate receipts (50% to franchises), and merchandise, distributing it among teams. In 2022, each franchise received $2.5 million from the central pool, enabling profitability for four teams (Islamabad, Quetta, Peshawar, Karachi). On the other hand, the Franchise Fees is paid annually in USD, which vary significantly: Multan Sultans pay $6.35 million, Karachi Kings $2.35 million, and Quetta Gladiators $1.1 million. This disparity creates financial strain, exacerbated by PKR devaluation (e.g., 32% drop in 2017–2018), increasing costs for owners. From the Franchise Owner Dynamics, the Owners seek a regional revenue model, where teams retain profits from home matches (e.g., Lahore Qalandars keep Gaddafi Stadium receipts).
The PCB maintains centralised control to ensure equity, especially for teams like Quetta and Peshawar, which cannot host matches due to security and infrastructure limitations.In 2020, all six franchises filed a legal notice against the PCB, demanding financial restructuring to address losses and high taxes. The PCB responded with a revised revenue-sharing model in 2022, increasing franchise income by 20%, but owners continue to push for an independent PSL board.
Ownership motivations extend beyond sport. For example, Ali Tareen’s ownership of Multan Sultans boosts his political influence in South Punjab, while Salman Iqbal leverages Karachi Kings for ARY’s media empire. These non-financial incentives sustain owner commitment despite early losses. Look at the Franchise Performance and Branding:
- Islamabad United: The most successful team, with three titles (2016, 2018, 2024), benefits from strong management and players like Shadab Khan. Its branding emphasizes unity and resilience.
- Lahore Qalandars: Known for their passionate fan base and back-to-back titles (2022, 2023), they’ve built a strong identity under Shaheen Afridi’s leadership.
- Multan Sultans: Despite high fees, their 2021 title and growing South Punjab fan base highlight their potential. Their “Sultan” branding resonates with regional pride.
- Teams invest in anthems, merchandise, and social media to build fan loyalty, with Peshawar Zalmi’s “Yellow Storm” and Karachi Kings’ “Dhan Dhana Dhan” campaigns standing out.
- However, besides this there are challenges too in the Franchising:
- Fee Disparities: The wide gap in franchise fees creates financial inequity, with Multan and Karachi facing higher burdens than Quetta or Peshawar.
- Currency Devaluation: USD-based fees strain owners as the PKR weakens, prompting calls for PKR-based payments or fee adjustments.
- Regional Revenue: The PCB’s centralized model limits franchises’ ability to monetize home markets, a key demand for owners hosting matches.
- Profitability: While four teams are profitable, high-fee franchises like Multan and Lahore need further revenue growth to break even consistently.
The franchising model drives the PSL’s commercial success by attracting private investment and fostering city-based rivalries, but ongoing tensions over revenue sharing and governance highlight the need for reform. It also faces Challenges like:
- Scheduling Conflicts: The 2025 season’s April–May window overlaps with the IPL, risking foreign player availability and viewership. The PCB’s strategy to empower franchises in player negotiations aims to mitigate this.
- Financial Equity: Disparities in franchise fees and profitability gaps fuel demands for a regional revenue model or independent governance structure.
- Security Costs: Hosting matches in Pakistan requires significant security expenditure, with presidential-level protection for teams. Any lapse could disrupt the league’s reputation.
- Crowd Engagement: While marquee matches sell out, lower attendance at some venues (e.g., Multan in 2024) underscores the need for better scheduling and marketing.
- Global Competition: The PSL competes with richer leagues like the IPL ($6 billion revenue) and BBL ($60 million), requiring innovation in player acquisition and digital engagement.
Future prospects includes:
- Independent Governance: Registering the PSL as a private limited company could enhance efficiency, attract investment, and resolve franchise disputes.
- Women’s PSL: Building on women’s exhibition matches, a dedicated women’s league could expand the PSL’s audience and promote inclusivity.
- Digital Expansion: With 150 million digital viewers, partnerships with streaming platforms like Tapmad and Tamasha can boost global reach.
- Franchise Expansion: Adding new teams could increase revenue but requires a revised financial model to satisfy existing owners.
Definitely, the HBL Pakistan Super League (PSL), has transformed Pakistan’s cricketing landscape, generating over $18 million annually and a brand value of $330 million. Now the PSL is organizing its 10th season, its plans for independent governance, potential expansion, and digital growth position it to compete with global giants like the IPL and BBL. By refining its franchising model and embracing inclusivity, the PSL will continue to inspire fans and showcase Pakistan’s enduring love for cricket.
The author, Nazir Ahmed Shaikh, is a freelance writer, columnist, blogger, and motivational speaker. He writes articles on diversified topics. He can be reached at nazir_shaikh86@hotmail.com