PSL Franchise Multan Sultans Sold for Record Rs2.45bn; New Owner Plans to Rename Team Rawalpindi

The Multan Sultans has been sold to Walee Technologies for a record Rs2.45 billion ahead of the 11th edition of the Pakistan Super League. The auction, held in Lahore and hosted by Fakhr-i-Alam, included an annual fee covering team ownership for the next ten years.

Following the sale, Walee Technologies announced that the franchise’s name would change from Multan Sultans to Rawalpindi. CEO Ahsan Tahir declared the rebranding at the auction ceremony.

Mohsin Naqvi, Chairman of the Pakistan Cricket Board, congratulated Walee Technologies on their successful bid and thanked former board chairman Najam Sethi for creating the franchise. Sethi described the auction as a “culmination of a dream come true” and praised Naqvi’s leadership.

The PCB chief noted that the future of the Multan Sultans brand would need to be reconsidered due to the high sale price, expressing concerns about the brand’s age and potential reputation issues. The opening bid was set at Rs1.82 billion, based on the second-highest bid received for the Sialkot franchise.

The Multan Sultans franchise, established in 2017, competed in eight consecutive PSL seasons and secured the league title in 2021. After the previous owner, Ali Khan Tareen, was not offered a renewal, the PCB took temporary control of the team. The auction process began on January 14 and concluded with technical evaluations by February 3.

Walee Technologies, which specializes in media, finance, and technology projects, had previously acquired PSL livestreaming rights and now assumes ownership of the rebranded Rawalpindi franchise.