The Pakistan Super League (PSL) (Urdu: پاکستان سپر لیگ‎) is the highest level of professional Twenty20 men's cricket in Pakistan. The league is headquartered in Lahore and as of 2016 consists of five franchises. Instead of operating as an association of independently owned teams, the league is a single entity in which each franchise is owned and controlled by investors. The commercial rights to the initial franchises were sold for PKR 985 Crores ($91.4 million) for a span of 10 years in December 2015. Islamabad United were crowned champions of the inaugural 2016 PSL season, defeating Quetta Gladiators in the final on 23 February 2016.