Record Sale of Multan Sultans Franchise
The Multan Sultans franchise has been sold for a record annual fee of PKR 2.45 billion, marking the highest valuation in the Pakistan Super League’s (PSL) history. This significant sale was secured by the financial technology firm Walee Technologies following competitive bidding. The previous record was set during the recent sale of the Sialkot franchise. The auction concluded just two days before the PSL’s landmark player auction for its 11th season, which will be the first edition to adopt a full auction model instead of the traditional draft.
Bidding for the franchise started at PKR 1.82 billion and quickly crossed PKR 1.85 billion, the benchmark established last month. Walee Technologies emerged ahead of fellow bidders CD Ventures and Particle Igniter. The franchise had entered the auction without retaining any players from the previous season, ensuring that its entire squad will now be assembled either through direct signings or at the upcoming auction.
Franchise Identity Reset and Regional Impact
Soon after finalising the purchase, Walee Technologies announced that the franchise would no longer compete under the Multan Sultans name. The team will instead be rebranded as Rawalpindi, aligning with the hometown of the new ownership group. As a result, Rawalpindi Cricket Ground will temporarily serve as the base for two PSL franchises, including Islamabad United, the league’s three-time champions.
The decision removes South Punjab from the PSL map for the first time since the league’s inception. Multan had been part of the tournament for eight seasons, during which the franchise won one title and reached three additional finals. Over that period, the team built a strong following across the region, making the relocation a significant structural change within the league rather than a cosmetic rebrand.
Ownership Transition and League Expansion Context
Multan Sultans had been without a long-term owner since Ali Tareen chose not to renew his agreement after PSL 10, citing differences with league management. Although Tareen was among the five bidders approved to participate in the auction, he indicated on social media that he would not pursue the franchise at the prevailing price levels. His company ultimately did not place a bid.
Following the sale, PCB chairman Mohsin Naqvi described the development as a “significant moment for the league.” He noted that Multan had previously struggled to attract buyers at far lower valuations and said the record figure reflected growing confidence in the PSL’s commercial future.
The sale coincides with a period of expansion for the tournament. The PCB has confirmed that PSL 11 will feature eight teams, with Hyderabad and Sialkot joining the competition. The 2026 season is scheduled to run from March 26 to May 3, reinforcing the league’s push toward higher valuations, broader geographic reach, and a revised squad-building framework.
Key Points of the Sale
- Record Valuation: The sale of the Multan Sultans franchise for PKR 2.45 billion is the highest in PSL history.
- New Ownership: Walee Technologies acquired the franchise, surpassing other bidders like CD Ventures and Particle Igniter.
- Rebranding: The franchise will now be known as Rawalpindi, moving away from the Multan Sultans name.
- Impact on Regional Representation: The move removes South Punjab from the PSL map, affecting the league’s regional presence.
- League Expansion: PSL 11 will include eight teams, with Hyderabad and Sialkot joining the competition.
- Future Plans: The 2026 season is set to run from March 26 to May 3, highlighting the league’s growth strategy.
Conclusion
The sale of the Multan Sultans franchise marks a pivotal moment for the Pakistan Super League. With Walee Technologies stepping in as the new owner, the league is poised for further growth and expansion. The rebranding of the franchise to Rawalpindi signifies a shift in the league’s structure, while the introduction of a full auction model for PSL 11 highlights the evolving dynamics of team management. As the PSL continues to expand its reach and increase valuations, the future looks promising for both the league and its fans.
