The Pakistan Super League (PSL) has announced the extension of its title sponsorship deal with Habib Bank Limited (HBL). The new deal signed will commence from the year 2022 and will run until 2025. While the price of the rights has made a huge jump as the new deal value has seen an increase of 55 per cent as compared to the previous deal.
Habib Bank Limited has held the PSL title sponsorship rights since the year 2016, as they paid 5.2 million dollars for securing those rights in PSL’s debut season. Later on in 2018, the bank extended its deal by paying 14.3 million dollars, almost triple as compared to the amount paid in the first season. While this new extension has seen a 55 per cent jump as compared to the last one with the bank paying 22.2 million dollars to continue their association with PSL.
There was a bidding process organized for the selection of the title sponsor of the league for the upcoming season. HBL emerged at the top after putting back seven other interested parties who had collected the bid documents.
Speaking on the occasion, PCB Chairman Ramiz Raja, said: “I am delighted that the HBL have further strengthened their bond and relationship with the Pakistan Cricket Board by committing to support the Pakistan Super League for another four years. Reality is that HBL, in fact, have been investing in the future stars of Pakistan cricket through PSL for which we are eternally grateful.
“Their decision to continue the partnership is also a validation and endorsement of the brand and product the HBL PSL has become, thanks to the untiring efforts of the Pakistan Cricket Board staff and our valued franchises. Both the PCB and franchises, with the patronage of HBL, have worked tirelessly to make the league glamorous, entertaining and exciting for the fans as well as the shortest format specialists who are keen to feature in it.”
Adding to it, HBL Chief Operating Officer Sagheer Mufti, said: “HBL is pleased to renew its commitment to Pakistan’s largest sporting platform, Pakistan Super League (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.”
Lastly, HBL Chief Marketing & Communications Officer Ali Habib, added: “HBL is all about ‘enabling dreams’ and this synchronizes perfectly with PSL’s philosophy to provide an enabling platform to the young, emerging cricketers of the country. HBL wishes PCB all the success in staging this mega sporting platform that provides fans the world over the opportunity to enjoy the best that cricket has to offer.”