PSL’s Multan Sultans Sold for Record Price Rs2.45bn; Reborn as Rawalpindi Franchise

In a landmark moment for the Pakistan Super League (PSL), the Multan Sultans franchise sold at auction for a record Rs2.45 billion, making it the most expensive team in the league’s history, according to Tribune.

The high-stakes bidding war took place Monday evening at the Expo Centre in Lahore, where the Pakistan Cricket Board (PCB) set the base price at Rs1.82bn. Multiple corporate groups aggressively contested the rights, but Walee Technologies ultimately sealed the deal with its final offer, eclipsing all previous franchise valuations.

PCB officials confirmed five technically qualified bidders had entered the race: Walee Technologies, Aim Next Inc, Deharki Sugar Mills (DSM), Particle Igniter and CD Ventures. Notably, the former owner’s group, Deharki Sugar Mills led by Ali Tareen, chose not to place a bid at the auction, effectively surrendering control of the franchise they once led.

Once the winning bid was verified, the new owners delivered a surprise announcement, the team would no longer compete as Multan but would be renamed Rawalpindi for the upcoming PSL 11 season.

Speaking at the event, Walee Technologies’ CEO Ahsan Tahir said the decision was personal, rooted in his connection to Rawalpindi streets and its cricket culture, a shift that has stirred mixed reactions among fans.

PCB Chairman Mohsin Naqvi congratulated the new owners and called the sale a “significant moment” for the league’s commercial growth, underscoring PSL’s rising market value. However, he also acknowledged the bittersweet side: South Punjab loses its PSL representation, sparking disappointment among the region’s followers.

The sale also reflects a broader shift in the PSL’s business model. For the first time, team assets are being traded in open auctions, rather than held under long-term private ownership. The winning price far outstrips previous franchise valuations, including Sialkot and Hyderabad teams sold recently at high fees.

With the franchise now set to compete as Rawalpindi, attention turns to the player auction scheduled later this week, where all eight PSL sides will finalize their squads ahead of the 2026 season.

Stay updated with the latest Sports news here.