Who Owns Lahore Qalandars?
Lahore Qalandars is a Pakistani professional Twenty20 cricket franchise owned by the Rana family through Qatar Lubricants Company (QALCO) and Kausar Rana Resources. Founded in 2015, the franchise competes in the Pakistan Super League and has won three PSL titles (2022, 2023, 2025), equalling Islamabad United as the most successful team in league history. In January 2026, an arbitration tribunal restored majority control to original owner Fawad Rana after a dispute with his brothers. The franchise renewed its PSL rights for 10 years through 2035.
Lahore Qalandars Timeline
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Who Owns Lahore Qalandars?
- Parent Company: Qalco
- Ownership Type: Subsidiary
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Lahore Qalandars | Qalco | Subsidiary |
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Lahore Qalandars on AmazonHistory of Lahore Qalandars
- Founded: 2015
- Founders: Fawad Rana
Lahore Qalandars was established on December 12, 2015, as one of the five founding franchises of the Pakistan Super League. Fawad Rana, through QALCO, acquired the franchise rights for $26 million for a ten-year period. The team is named after the Qalandars, Sufi mystics historically associated with Lahore's spiritual heritage. The "Q" in Qalandars was linked to represent both Qatar and QALCO.
The early years were challenging. The team finished last in the PSL standings for four consecutive seasons from 2016 to 2019. However, the franchise invested in grassroots development through the Players Development Program (PDP), which scouts talent from across Pakistan through open trials.
Lahore Qalandars reached the PSL final in 2020 and won their maiden PSL title in 2022, defeating Multan Sultans by 42 runs. They won a second consecutive title in 2023 with a dramatic one-run victory over Multan Sultans, the narrowest margin in PSL final history, becoming the first PSL franchise to defend a title.
The 2024 season was disastrous, with the Qalandars winning only one of ten matches and finishing last. However, the team rebounded in 2025 to win their third PSL title in four years, equalling Islamabad United as the most successful team in PSL history. The 2025 campaign included key performances from Shaheen Shah Afridi, Abdullah Shafique, and Kusal Perera.
In November 2025, the franchise renewed its PSL ownership rights for another 10 years through 2035. In January 2026, an arbitration tribunal restored majority control to Fawad Rana after a corporate dispute with his brothers. For the 2026 PSL season (PSL 11), Russell Domingo replaced long-serving Aaqib Javed as head coach.
About Qalco
Who owns Qalco?
Qalco (Qatar Lubricants Company W.L.L.) is owned by Sheikh Mohamed Bin Khalifa Bin Hamad Al Thani, a member of the Qatari ruling family. Fawad Naeem Rana serves as Managing Director and runs the company day to day. Qalco is a privately held company and does not disclose ownership percentages or financial details publicly. The company was founded in 1998 and is headquartered in Mesaieed Industrial City near Doha, Qatar.
Does Qalco own the Lahore Qalandars?
Qalco acquired the Lahore franchise rights from the Pakistan Cricket Board in December 2015 for approximately $25.1 million over ten years. The franchise is operated through Kausar Rana Resources (KRR), a Pakistani special purpose vehicle in which Qalco originally held 51 percent. However, an arbitration tribunal ruled in January 2026 that the transfer of Qalco shares to Atif and Sameen Rana was void, and the brothers must either pay Qalco PKR 2.296 billion or return the 51 percent shareholding.
How many PSL titles have the Lahore Qalandars won?
The Lahore Qalandars have won three Pakistan Super League titles, in 2022, 2023, and 2025. They are the most successful franchise in recent PSL history and the first team besides Islamabad United to win three titles. The 2025 final saw the Qalandars defeat Quetta Gladiators by six wickets at Gaddafi Stadium in Lahore, chasing 202 runs with one ball to spare. The team received $500,000 in prize money for the 2025 title.
What is the Lahore Qalandars franchise worth?
An independent valuation by EY MENA in November 2025 declared the Lahore Qalandars the most valuable PSL franchise based on combined on-field performance and organisational strength. The valuation placed the franchise at approximately PKR 980 million ($3.47 million) per year. The renewed annual franchise fee is approximately PKR 670 million ($2.37 million), based on the original value plus 25 percent of the new valuation. The original acquisition price in 2015 was $25.1 million over ten years.
What does Qalco actually do as a business?
Qalco is a lubricants manufacturing company. It operates a blending plant in Mesaieed Industrial City in Qatar, producing automotive engine oils, industrial lubricants, marine oils, greases, coolants, and oilfield chemicals. The company serves government, private, and retail customers in Qatar and exports to countries in Asia and Africa. Qalco also provides toll blending services for other companies. The company does not publicly disclose its revenue.
What is the Rana brothers ownership dispute?
The dispute involves Fawad Rana, Qalco Managing Director, against his younger brothers Atif and Sameen Rana over control of the Lahore Qalandars. Fawad Rana alleges that shares of Kausar Rana Resources were fraudulently transferred from Qalco to his brothers in 2020. An arbitration tribunal appointed by the Supreme Court of Pakistan ruled in January 2026 that the transfer was void. The brothers must pay Qalco PKR 2.296 billion (approximately $8.2 million) plus markup within 45 days, or return the 51 percent shareholding to Qalco.
- Founded: 1998
- Headquarters: Doha, Qatar
- Company Type: Privately Held
- Revenue: Not publicly disclosed
- Employees: Approximately 13 (estimated)
Where Is Lahore Qalandars Made / Based?
- Headquarters: Lahore, Pakistan
- Manufacturing / Operations: Pakistan
Lahore Qalandars Categories & Tags
Lahore Qalandars Sustainability & Ethics
Lahore Qalandars operates community engagement and youth development programs within Pakistan's cricket ecosystem.
Players Development Program (PDP): The franchise's flagship initiative conducts open trials across Pakistan to discover and develop young cricket talent. Players identified through the PDP have progressed to represent Pakistan at the international level. The program focuses on underserved communities and provides coaching, equipment, and development pathways.
Community Engagement: The franchise conducts cricket clinics, coaching camps, and talent identification programs in Lahore and surrounding regions. The team participates in health awareness campaigns and community service activities.
Anti-Corruption Compliance: Lahore Qalandars works with the Pakistan Cricket Board's anti-corruption unit to maintain integrity in all operations. The franchise maintains strict anti-corruption policies and player education programs.
Cultural Heritage: The franchise's brand identity incorporates Lahore's Sufi cultural heritage, with the team name referencing Qalandars (Sufi mystics) and the logo featuring a Sufi whirling figure. Fawad Rana became known for celebratory dances in the stands and chanting the Sufi anthem "Dama Dam Mast Qalandar."
Awards & Recognition
Lahore Qalandars have achieved significant success in the Pakistan Super League:
- Three PSL titles (2022, 2023, 2025), equalling Islamabad United as the most successful team in league history
- First PSL franchise to defend a title, winning back-to-back in 2022 and 2023
- 2022 final: 42-run victory over Multan Sultans for maiden title
- 2023 final: one-run victory over Multan Sultans, the narrowest margin in PSL final history
- 2025: Won third title in four years, finishing 4th in the league stage before winning the playoffs
- Recognized as the most valuable PSL franchise by EY MENA independent valuation
- Players Development Program has produced players who represented Pakistan internationally
- Fakhar Zaman earned the Hanif Mohammad Cap as the team's top run-scorer in 2023
- Shaheen Shah Afridi recognized for leadership and match-winning performances as captain
Lahore Qalandars Recalls & Controversies
Rana Family Ownership Dispute (2023-2026): The most significant controversy is the ownership dispute within the Rana family. In 2020, Fawad Rana transferred his 47% shares in KRR to his brothers Atif and Sameen Rana, allegedly to facilitate a sale that never materialized. In January 2026, a Supreme Court-appointed arbitration tribunal ruled the transfer was void and ordered either restoration of QALCO's 51% shareholding or payment of PKR 2.3 billion within 45 days. A Lahore tribunal subsequently restored control to Fawad Rana. Atif Rana confirmed his legal team was exploring appeal options.
2024 Season Performance: Lahore Qalandars had their worst PSL season in 2024, winning only one of ten matches and finishing last. The dramatic decline from consecutive championships was attributed to the absence of Rashid Khan due to injury, fielding lapses, and inconsistent batting.
Ball Tampering Penalty (2026): In March 2026, Lahore Qalandars conceded a five-run ball-tampering penalty, with Fakhar Zaman suspended for two matches.
PCB Relations: Like all PSL franchises, Lahore Qalandars must navigate complex relationships with the Pakistan Cricket Board, including regulatory compliance, scheduling conflicts, and revenue-sharing arrangements.
Lahore Qalandars Ownership: Pros & Cons
Advantages
- +Three PSL titles (2022, 2023, 2025), equalling Islamabad United as the most successful team in league history
- +Most valuable PSL franchise per EY MENA valuation
- +10-year franchise renewal through 2035 provides long-term stability
- +Strong home market in Lahore, Pakistan's second-largest city with over 13 million residents
- +Players Development Program discovering grassroots talent across Pakistan
- +Captain Shaheen Shah Afridi is one of cricket's premier fast bowlers
- +Broadcasting deals covering over 200 countries provide global exposure
Considerations
- -January 2026 ownership dispute within the Rana family created uncertainty
- -2024 season was the worst in franchise history (1 win in 10 matches)
- -Dependence on PSL schedule, regulations, and revenue-sharing agreements
- -Limited revenue compared to IPL franchises due to smaller broadcast deals
- -Player availability challenges during international cricket commitments
- -Currency fluctuations affecting franchise economics in Pakistani rupees
Frequently Asked Questions About Lahore Qalandars
Sources & Further Reading
- Lahore Qalandars Official Website -
- Pakistan Super League Official Website -
- Pakistan Cricket Board Official Website -
- ESPNcricinfo: Lahore Qalandars agree to extend PSL ownership rights -
- ESPNcricinfo: PSL Coverage and Statistics -
- Profit by Pakistan Today: Fawad Rana wins arbitration against brothers -
- The Nation: Lahore Qalandars face Rs 3 billion liability -
- Wikipedia: Lahore Qalandars -
- Cricscope: Lahore Qalandars Squad 2026 -
- Cricbuzz: PSL Coverage -
- Dawn Sports: Pakistani Cricket Coverage -
- The Express Tribune: Sports Section -
- Geo Sports: Pakistani Sports News -
- EY MENA: Franchise Valuation -
- Warwickshire County Cricket Club -
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Competitive Analysis
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