Media365
Pakistan Super League witnessed a dramatic twist after financial technology firm Walee Technologies secured ownership of former champions Multan Sultans for a record annual fee of $8.8 million, making it the most expensive franchise in the tournament’s history.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!The successful bid, finalised at an auction in Lahore, comes amid a period of rapid expansion for the PSL. Last month, the Pakistan Cricket Board (PCB) increased the number of teams from six to eight ahead of the new season starting March 26. New entrants Sialkot and Hyderabad were sold for $6.55 million and $6.2 million respectively, with Sialkot previously holding the sale record before Walee’s landmark purchase.
Walee Technologies announced that the Multan Sultans identity would effectively be dissolved, with the franchise relocating and rebranding as Rawalpindi — the hometown of the new ownership group. Chief executive Ahsan Tahir promised major developments ahead, saying, “The journey ahead is going to be highly exciting in the coming weeks, months and years as we will continue to amaze our fans with various developments.”The sale also marks the end of Ali Tareen’s association with the franchise after the former owner opted not to renew his agreement following differences with the PCB last year. Initially, the board had planned to operate the team itself for the upcoming season, but strong market interest following the sales of Sialkot and Hyderabad prompted a change of strategy.
