The Pakistan Super League (PSL) franchise Multan Sultans was sold for a record-breaking Rs2.45 billion during an auction conducted by the Pakistan Cricket Board (PCB) on Monday.
Walee Technologies acquired the franchise rights for 10 years, making it the most expensive team in PSL history, and subsequently rebranded the side as Rawalpindi.
The auction ceremony was held at Expo Centre Lahore and was attended by several prominent figures from Pakistan cricket. PCB Chairman Mohsin Naqvi was present at the event, along with former PCB Chairman Najam Sethi. Pakistan’s legendary former captain and batsman Zaheer Abbas also attended the auction. Lahore Qalandars’ owners Sameen Rana and Atif Rana were among the notable participants present at the venue.
A total of five bidders took part in the auction for the Multan franchise. The base price for the team was set at Rs1.82 billion. After competitive bidding, Walee Technologies emerged as the successful bidder with an offer of Rs2.45 billion.
According to the PCB, six proposals were received within the stipulated time. Following a detailed and transparent evaluation process, five bidders were declared technically qualified and allowed to participate in the auction.
