BeNewz
Related Articles
Abdullah Zahid
LAHORE: In a landmark moment for Pakistan cricket, the Pakistan Super League (PSL) franchise formerly known as Multan Sultans has been sold for a staggering Rs 2.45 billion (245 crore), setting a new record as the most expensive team in the league’s history. The buyer, Walee Technologies – a prominent media, technology, and finance company – emerged victorious after an intense bidding war at the auction held at the Expo Centre in Lahore.
The auction, overseen by the Pakistan Cricket Board (PCB), saw five competitive bidders vying for the rights to the franchise for the next 10 years (covering PSL seasons from 2026 to 2036). The base price was set at Rs 1.82 billion. Bidding kicked off with CD Ventures opening at around Rs 1.83 billion, followed by incremental raises from Walee Technologies and others, including Particle Igniter. The competition escalated dramatically into the multi-billion range, with CD Ventures pushing to Rs 2.35 billion before Walee Technologies sealed the deal with the final winning bid of Rs 2.45 billion. This amount also includes the annual franchise fee.
Immediately after the hammer fell, representatives from Walee Technologies, led by Group CEO Muhammad Ahsan Tahir, received the symbolic franchise key from PCB Chairman Mohsin Naqvi. In a surprise announcement, the new owners revealed that the team would no longer represent Multan. Instead, it will be rebranded and relocated to represent Rawalpindi, marking a significant shift in the PSL landscape. This change means Rawalpindi – long associated with the iconic Rawalpindi Cricket Stadium – will now have its own dedicated PSL franchise, often referred to affectionately as the “Pindi Boys” by fans.
PCB Chairman Mohsin Naqvi congratulated Walee Technologies during the ceremony, praising the bidders for their enthusiasm and highlighting the growing commercial value of the PSL. He also thanked former owner Ali Tareen and the original architect of the Multan Sultans, Najam Sethi, for their contributions. Naqvi noted that critics had doubted the franchise would even fetch Rs 1 billion, but the outcome proved the rewards of hard work and strategic investment.
The auction drew a star-studded gathering, including former PCB Chairman Najam Sethi, Pakistan cricket legend Zaheer Abbas, and owners of other PSL teams such as Lahore Qalandars’ Salman Rana and Atif Rana. The event underscored the PSL’s rising popularity and economic appeal, especially after recent expansions and high-value sales of new teams like those in Hyderabad and Sialkot.
The Multan Sultans franchise became available after Ali Tareen’s company, DSM, opted not to renew its 10-year contract in late 2025 amid reported tensions with the PCB. The team, which had enjoyed success including a PSL title, now enters a new chapter under fresh ownership and a new identity.
This record sale reflects the PSL’s maturation as one of Asia’s premier T20 leagues, attracting substantial corporate investment and boosting Pakistan’s domestic cricket ecosystem. PSL 11 is scheduled to begin in March 2026, and fans eagerly await how the rebranded Rawalpindi franchise will perform in its debut season.
