In a major development for the Pakistan Super League (PSL), the Multan Sultans franchise has been sold for a record PKR 2.45 billion to Wali Technologies. As part of the acquisition, the team will be renamed Rawalpindi, marking a significant shift in the league’s regional representation.
The highly competitive auction, which started with a base price of PKR 182 crore, saw intense bidding among five qualified parties. The final round featured a dramatic showdown between Wali Technologies, CD Ventures, and Particle Ignitors Ventures, with Wali Technologies ultimately securing the rights with its PKR 245 crore bid.
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Notable personalities present at the auction included former PCB Chairman Najam Sethi and legendary cricketer Zaheer Abbas, alongside owners of other PSL franchises.
The sale was prompted after the previous owner, Ali Tareen, declined to renew the 10-year ownership agreement. The PCB subsequently decided to re-auction the franchise rights.
This transaction underscores the growing commercial value and investor confidence in the PSL, setting a new benchmark for franchise valuations in Pakistani sports.
