PSL franchise Multan Sultans sold for Rs2.45 billion, new owner renames team as 'Rawalpindi'

Lahore (Web Desk): In a major development for the Pakistan Super League (PSL), the Multan Sultans franchise was sold for an impressive Rs2.45 billion at an auction organized by the Pakistan Cricket Board (PCB) on Monday.

The rights to the team were successfully secured by Walee Technologies in a star-studded event held in Lahore, drawing attention from prominent figures in both cricket and business circles.

The auction, held at Lahore’s Expo Centre, became a landmark moment as team valuations climbed to unprecedented levels under the league’s revamped ownership structure.

The process kicked off with the PCB setting a base price of Rs1.82 billion.

From the very first bid, the room buzzed with tension as top corporate players entered the fray. Walee Technologies set the pace with an initial offer of Rs1.9 billion, sparking a heated contest with CD Ventures and Particle Igniter.

The three bidders relentlessly outbid each other, driving the price far beyond the original valuation.

After a prolonged and intense showdown, Walee Technologies returned with a decisive bid of Rs2.45 billion, clinching the franchise at a record-breaking sum — the highest in PSL history.

The PCB had earlier cleared five contenders for the Multan team including Walee Technologies, Aim Next Inc, Deharki Sugar Mills, Particle Igniter, and CD Ventures. However, former owner Ali Tareen’s Deharki Sugar Mills remained absent from the bidding, signaling a full withdrawal from the franchise they had previously managed.
Following the win, the newly announced owners revealed their plans to rebrand the team as Rawalpindi.

“Get ready for a surprise! We are taking the team forward as Rawalpindi!” declared a company representative, generating excitement among attendees.

The official rebranding is expected to be unveiled in the coming weeks, with team planning and commercial activities set to accelerate as PSL 11 approaches under the league’s new auction-based system.

The team’s new owner, Walee Technologies, is an international firm with interests spanning media, finance, and technology, according to its official website. The company has also previously secured the livestreaming rights for the PSL, underlining its expanding involvement in the sports and entertainment arena.