The Pakistan Super League’s Multan franchise has been sold to Walee Technologies for a record Rs2.45 billion ahead of the league’s 11th edition, marking the highest bid in PSL history.
The sale took place during an auction in Lahore, where it was announced that the winning bid also covers the annual fee to maintain ownership of the team for the next 10 years.
During the auction ceremony, Walee Technologies chief executive officer Ahsan Tahir revealed that the franchise would be rebranded and renamed Rawalpindi.
Pakistan Cricket Board chairman Mohsin Naqvi congratulated Walee Technologies on the successful bid and acknowledged former PCB chairman Najam Sethi for his role in creating the Multan franchise.
Najam Sethi said the sale marked a proud moment for Pakistan cricket and reflected the growing value of the PSL. He added that it was fulfilling to see the franchise continue its journey under new ownership.
Speaking later at a press conference, Naqvi said the future of the Multan Sultans brand would need to be reconsidered following the record investment. He said it would not be reasonable to expect a buyer paying Rs2.45 billion to retain the same name.
Naqvi explained that the PCB initially planned to retain the franchise for a limited period but decided to auction it due to favorable market conditions and investor interest.
The Multan franchise was launched in 2017 and competed in eight consecutive PSL seasons, winning the league title in 2021. The team became ownerless last year after the PCB did not renew the contract of former owner Ali Khan Tareen.
Walee Technologies is a global company with interests in media, finance, and technology, and has previously been involved in PSL digital and livestreaming projects.
Observers say the record-breaking sale highlights the PSL’s growing commercial appeal and sets a new benchmark for franchise valuations in Pakistan cricket.
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