An arbitration court has delivered a landmark ruling in the long-running family dispute behind the Lahore Qalandars franchise, ordering Atif and Sameen Rana to either return management control of the team to Qatar Lubricants Company (QALCO) or pay Rs 2.3 billion in lieu of shares held by their elder brother, Fawad Rana.
The decision was issued by Justice (retd) Maqbool Baqer, who was appointed by the Supreme Court of Pakistan to arbitrate the dispute. The ruling gives the current owners 45 days to comply, either by restoring QALCO’s 51% shareholding in the franchise’s parent company or by making the required payment along with markup, taking the total liability to just over Rs 3 billion.
The verdict has brought to light years of internal conflict within one of the Pakistan Super League’s most recognisable franchises — a conflict that, until now, had largely remained out of public view.
When the Pakistan Cricket Board auctioned PSL franchises in December 2015, Fawad Rana emerged as one of the earliest and most enthusiastic bidders. Through his Qatar-based company QALCO, he acquired the Lahore franchise for $26 million for a 10-year period.
A lifelong cricket enthusiast, Rana envisioned the team as a family-run enterprise. In early 2016, a Pakistan-registered special purpose vehicle, Kausar Rana Resource (KRR), was established to own the franchise locally. QALCO held 51% of KRR, ensuring Fawad Rana’s management control, while the remaining shares were divided between his brothers, Atif and Sameen Rana. The company was named after their mother, Kausar.
While Fawad Rana became the public face of the Lahore Qalandars — known for his animated presence on the boundary line — day-to-day operations were largely handled by his brothers, as he spent most of his time in Qatar.
The first major shift in ownership occurred in 2018, when 4% of QALCO’s stake in KRR was transferred to Atif Rana. This move stripped QALCO of its majority position, leaving Fawad Rana as the single largest shareholder but no longer in control.
According to submissions made during arbitration, Atif and Sameen Rana argued that the transfer was necessitated by financial pressures on the franchise and regulatory constraints tied to QALCO’s Qatari registration, particularly in relation to potential participation in the Abu Dhabi T10 League.
A more dramatic change followed in 2020. Court documents reveal that Fawad Rana transferred his remaining 47% stake in KRR to Atif Rana, leaving himself with just 1%. His counsel argued that this transfer was secured on the pretext of a potential sale of the franchise to an external buyer — a buyer who, according to the arbitrator’s findings, never existed. No payment was made for the transfer.
By 2021, matters grew even more complex when KRR allegedly sold around 30% of its shares to an individual referred to only as “Mr Niazi.” This transaction, uncovered during cross-examination, had not been disclosed earlier and further complicated the ownership structure.
In his detailed decision, Justice (retd) Maqbool Baqer ruled that KRR must pay QALCO Rs 2.3 billion, along with markup reflected in audited financial statements. Failure to do so would require the immediate restoration of QALCO’s 51% shareholding, effectively returning management control of the Lahore Qalandars to Fawad Rana.
The arbitrator also directed KRR to fully account for any profits derived from the disputed sale of shares to “Mr Niazi,” calling for transparency around a transaction that remained unexplained throughout much of the proceedings.
Despite the ruling, the dispute appears far from over. Speaking to Profit, Atif Rana confirmed that his legal team is preparing to challenge the decision. “He is my elder brother. What can I say about my Bhai?” he said, declining further comment.
For now, Atif and Sameen Rana are expected to continue managing KRR and the Lahore Qalandars as the 45-day compliance window runs its course. Whether the franchise’s ownership will ultimately revert to its original custodian or remain with the younger brothers now rests on the next phase of what has become one of the most consequential off-field battles in PSL history.
As the legal process unfolds, the future governance of the Lahore Qalandars — a team that has grown from perennial underperformers to PSL champions — hangs in the balance, overshadowed by a deeply personal family rift playing out in courtrooms rather than on the cricket field.
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