Pakistan Super League (PSL) franchise Multan Sultans was sold for a record Rs2.45 billion during an auction conducted by the Pakistan Cricket Board (PCB) on Monday. The franchise rights were acquired by Walee Technologies at a high-profile auction held in Lahore, marking the highest-ever valuation for a PSL team. The auction commenced with the recitation of the Holy Quran followed by the national anthem. PSL Chief Executive Officer Salman Naseer welcomed the five qualified bidders before PCB Chairman Mohsin Naqvi officially inaugurated the proceedings by striking the gong. Moderator Sidra Iqbal outlined the auction rules, while auctioneer **Fakhre Alam owner Ali Tareen, who opted not to renew the ownership agreement after the conclusion of the league’s 10th edition. Following his exit, the PCB temporarily assumed control of the franchise and initially announced it would manage the team for PSL 11, scheduled to run from March 26 to May 3. However, the board later reversed that decision and invited fresh bids for the franchise. The PCB received six technical proposals, of which five were approved for the final auction stage. PCB Chairman Hails Auction Success Speaking at a press conference alongside the new owners, PCB Chairman Mohsin Naqvi described the auction as the result of months of preparation. “Our aim was to take the team to the highest possible price,” he said, adding that Prime Minister Shehbaz Sharif contacted him during the auction and expressed satisfaction over the outcome. Naqvi recalled that some critics had questioned whether the franchise could even reach a valuation of Rs1 billion. “When effort is made, results follow,” he said. Referring to the vision of former PCB chairman Najam Sethi, Naqvi said the league’s value had increased significantly, with international players now regularly participating in the PSL. He added that the PCB’s objective is to make the PSL not only Pakistan’s flagship tournament but a globally recognised league. ICC Discussions Also Addressed During the media interaction, Naqvi also commented on recent discussions with Imran Khwaja, who arrived in Pakistan to hold talks related to Pakistan’s stance on a scheduled T20 World Cup match against India. The PCB chairman said discussions with the International Cricket Council were ongoing and that decisions regarding Bangladesh-related matters were still pending. He added that several friendly countries had also shared their views with the PCB. Responding to questions about possible sanctions, Naqvi said the board and the government were not intimidated by threats of fines or bans.
Multan Sultans Sold for Record Rs2.45 Billion Ahead of PSL 11
