The PSL franchise Multan Sultans has been sold for Rs 2.45 billion. Wali Tech won the bid to purchase the team and has renamed it Rawalpindi.
The auction ceremony was held at Expo Center Lahore, attended by PCB Chairman Mohsin Naqvi. Former PCB chairman Najam Sethi and former national team captain Zaheer Abbas were also present.
The base price of Multan Sultans was set at Rs 1.82 billion, and there was competition among five bidders for the franchise’s ownership rights.
The highest bid of Rs 2.45 billion was placed for Multan Sultans, making it the most expensive PSL franchise. Wali Tech purchased the team for a 10-year period and changed its name to Rawalpindi.
On the occasion, PCB Chairman Mohsin Naqvi congratulated Wali Tech on acquiring the Multan Sultans team. According to the PCB, six proposals were received within the designated time. After a detailed and transparent review, five bidders were technically qualified to participate in the auction.
It is worth noting that Multan Sultans is one of the prominent and popular PSL franchises. The franchise’s former owner, Ali Tareen, had refused to renew the ownership agreement, following which the PCB announced the auction of the team.
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