Wali Tech Acquires Multan PSL Franchise for Rs2.45 Billion in 10-Year Deal
The Pakistan Super League (PSL) franchise of Multan has been acquired by Wali Tech for Rs2.45 billion under a 10-year ownership agreement, making it the most expensive franchise in PSL history.
The auction ceremony for the Multan team was held in Lahore and was attended by Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi. Former PCB Chairman Najam Sethi was also present at the event, along with legendary Pakistani batsman Zaheer Abbas.
Owners of the Lahore Qalandars franchise, Sameen Rana and Atif Rana, participated in the auction held at the Expo Centre Lahore. A total of five bidders took part in the bidding process for the Multan franchise. The base price for the team was set at Rs182 billion.
Following competitive bidding, Wali Tech secured ownership rights of the Multan franchise for Rs2.45 billion for a period of 10 years, elevating Multan to the status of the most valuable franchise in PSL history.
According to the PCB, a total of six proposals were received within the stipulated timeframe. After a comprehensive and transparent evaluation process, five bidders were declared technically qualified and allowed to participate in the auction.
It is noteworthy that the former owner of Multan Sultans, Ali Tareen, had declined to renew the 10-year ownership agreement, prompting the PCB to announce a fresh auction for the franchise.
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