Former Multan Sultans owner Ali Tareen steps away from PSL 2026, shares reason on X

Ali Tareen, the former owner of Multan Sultans, has announced that he will withdraw from the auction for one of the two new franchises in the Pakistan Super League (PSL). Tareen shared the update on X. He said that after careful thought, he and his family decided not to take part in the PSL franchise auction.

“After careful consideration, my family and I have decided not to participate in today’s PSL franchise auction,” Tareen wrote on X. “Our time with Multan Sultans was never just about owning a cricket team. It was about South Punjab.

“If I return to the PSL, it will be for the same reason. South Punjab is close to my heart. It is my home. When the Multanteam is sold again, we will be ready. I wish all the bidders the best,” he added.

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Tareen’s Exit Leaves Nine Bidders in PSL Auction

Ali Tareen’s decision was made public after most of the other bidders had already reached the venue and spoken to the media. His late withdrawal reduced the competition to nine bidders for the two new PSL franchises.

The successful bidders were allowed to choose their team names from Faisalabad, Sialkot, Rawalpindi, Hyderabad, Gilgit, and Muzaffarabad. They could also select a city outside these six, but that option required an extra payment of around USD 1 million.

Multan Sultans, which Tareen left at the end of last year after a dispute with PSL management, will be run by the PCB this season. The franchise will be put up for sale after the tournament ends, and Tareen has already said he wants to buy it back.

Hyderabad and Sialkot Join PSL as New Teams

Hyderabad and Sialkot have been confirmed as the seventh and eighth teams in the PSL. The auction saw bids go well beyond expectations.

FKS, a US-based aviation and healthcare group that also owns the Chicago Kingsmen, secured the Hyderabad franchise for PKR 1.75 billion (USD 6.2 million). Meanwhile, OZ Developers, a real estate consortium, won the Sialkot team with a bid of PKR 1.85 billion (USD 6.55 million). Both deals are the highest franchise fees in PSL history.

The bidding for the first team started at a base price of PKR 1.1 billion, which is the annual fee paid to the PCB for a 10-year ownership term. The amount quickly increased when FKS, led by CEO Fawad Sarwar, placed a bid of PKR 1.4 billion, raising the price well above the minimum increase required.