An arbitration tribunal has directed Atif and Sameen Rana, who currently control the Lahore Qalandars franchise, to either hand back management control to Qatar Lubricants Company (QALCO) or compensate their elder brother, Fawad Rana, with Rs 2.3 billion for his shares.
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The ruling was delivered by Justice (r) Maqbool Baqer, an arbitrator appointed by the Supreme Court of Pakistan, who has given the parties 45 days to implement the decision. With markup included, the total payable amount exceeds Rs 3 billion, as recorded in the franchise’s audited financial accounts.
The case stems from a prolonged family dispute that began in 2018, bringing to light disputed share transfers, claims of misrepresentation, and transactions that were allegedly never disclosed. Fawad Rana had originally acquired the Lahore Qalandars franchise in 2015 through his Qatar-based firm, QALCO. Over time, however, control reportedly shifted to his brothers through contested share transfers, including a 2020 transaction in which majority ownership was relinquished without any financial consideration.
During the arbitration, it also emerged that nearly 30% of the franchise’s shares had been sold to an unidentified individual referred to as “Mr Niazi,” a deal that had not been previously disclosed. The tribunal has ordered that all profits generated from this transaction must be fully disclosed and accounted for.
Although the ruling marks a significant development, the dispute is set to continue. Atif Rana has confirmed plans to challenge the decision in appeal, while QALCO has asked the Pakistan Cricket Board (PCB) to avoid dealing with the current management until the ruling is enforced.
For the time being, Atif and Sameen Rana are expected to continue running day-to-day operations of the Lahore Qalandars as the matter enters its next legal stage, leaving the future ownership of one of the PSL’s most prominent franchises uncertain.
