LAHORE: The Pakistan Super League (PSL) witnessed a historic moment at the Lahore Expo Centre as the Multan Sultans franchise was sold for a record-breaking Rs. 2.45 billion, the highest bid in PSL history.
The winning bidder, Walee Technologies, led by Group CEO Muhammad Ahsan Tahir, immediately announced the rebranding of the team to Rawalpindi, marking a significant shift in the league’s landscape.
The auction began with a base price of Rs. 1.82 billion, set by the Pakistan Cricket Board (PCB). Five qualified bidders—Walee Technologies, CD Ventures, Particle Igniter, Aim Next Inc., and Deharki Sugar Mills (DSM)—entered a fierce bidding war. The process was conducted under strict professional rules, with each bid required to exceed the previous by a minimum of Rs. 10 million. Strategic timeouts were allowed once per bidder, adding drama to the high-stakes contest.
The bidding escalated rapidly, with CD Ventures and Particle Igniter pushing the price above Rs. 2.3 billion. Ultimately, Walee Technologies stunned the room with a decisive bid of Rs. 2.45 billion, forcing CD Ventures to withdraw after a final timeout. Auctioneer Fakhre Alam declared Walee Technologies the winner, securing ownership rights for the next 10 years.
The ceremony was attended by prominent figures including PCB Chairman Mohsin Naqvi, former chairman Najam Sethi, legendary batter Zaheer Abbas, and Lahore Qalandars owners Sameen Rana and Atif Rana. PSL CEO Salman Naseer welcomed the bidders and highlighted the auction’s importance in ushering the league into a new era.
The sale comes after former owner Ali Tareen declined to renew his 10-year contract in late 2025, citing strained relations with the PCB. Tareen’s company, DSM, participated in the auction but fell short in reclaiming the franchise.
Multan Sultans had established themselves as one of PSL’s most successful franchises, winning the title in 2021 under Mohammad Rizwan and finishing runners-up in the following three seasons.
A PCB official stated that the record sale is a evidence of the PSL’s growing commercial value and global appeal. “With Walee Technologies already holding international media rights for PSL 11, their acquisition of the Rawalpindi franchise strengthens their footprint in Pakistan’s cricket system.”
