Lahore, February 9, 2026: Pakistan Super League (PSL) franchise Multan Sultans was sold for a record Rs2.45 billion at an auction conducted by the Pakistan Cricket Board (PCB) on Monday, marking one of the highest valuations in the league’s history.
Walee Technologies emerged as the winning bidder in a competitive, high-profile auction held in Lahore. The proceedings began 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 formally inaugurated the auction by striking the ceremonial gong. Moderator Sidra Iqbal outlined the auction rules, while auctioneer Fakhre Alam announced the base price of the franchise at Rs1.82 billion.
Following the announcement, bidders entered into an intense bidding war, culminating in Walee Technologies’ decisive bid of Rs2.45 billion. Representatives of the winning bidder received the symbolic franchise key from the PCB chairman and announced that the team’s city name would be changed from Multan to Rawalpindi.
Among the shortlisted bidders was former franchise owner Ali Tareen, who opted not to renew the decade-long ownership agreement after the PSL’s landmark 10th edition. As a result, the PCB had temporarily taken control of the franchise and initially planned to manage it for PSL 11, scheduled from March 26 to May 3. The board later reversed that decision and proceeded with the auction, formally inviting bids through a public advertisement last month.
The PCB received six technical proposals by the January 30 deadline, out of which five were shortlisted for the final bidding process.
Addressing a press conference alongside the new owners, Chairman Mohsin Naqvi hailed the auction as a major success. “Months of preparation went into this process. Our aim was to take the team to the highest possible price,” he said.
Naqvi revealed that Prime Minister Shehbaz Sharif called him during the auction and expressed satisfaction over the outcome. He also dismissed earlier criticism questioning whether the franchise could even reach a valuation of Rs1 billion.
“When effort is made, results follow,” he said, adding that the vision of former PCB chairman Najam Sethi had materialized, with the league’s value increasing and international players continuing to visit Pakistan. He reiterated that the PCB aims to make the PSL not only Pakistan’s flagship cricket tournament but a globally recognized event.
Commenting on recent engagements with ICC Deputy Chairman Imran Khwaja, who visited Pakistan amid discussions over Pakistan’s stance on a T20 World Cup match against India, Naqvi said it was premature to comment on the outcome. He noted that discussions with the ICC were ongoing and that several friendly countries had also shared their perspectives.
Responding to questions about potential fines or sanctions, the PCB chairman said the board and the government were not intimidated by threats, adding that decisions would be taken in the best interest of Pakistan cricket.
