Multan Sultans Sold for Record Price Ahead of PSL 2026 Latest Cricket News (PSL)

In a major development ahead of the 2026 season of the Pakistan Super League (PSL), the Multan Sultans franchise has been sold to Walee Tech for a record price of INR 2.45 billion, marking the highest-ever bid in the league’s history. The new owner has also changed the name from Multan to Rawalpindi, which has been a fascinating part of the entire story. 

The auction process, which was held in Lahore, saw the participation of five bidders, with the intense competition for the ownership of one of the PSL’s most popular franchises. The base price for the Multan Sultans was set at INR 1.82 billion, to which the Pakistan Cricket Board (PCB) chairman, Mohsin Naqvi, formally initiated the bidding process for the franchise.

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“As soon as the PSL ends, we will auction the franchise off, and in the next eight to ten days, we will appoint an acting head to run the franchise.” Naqvi previously expressed at the press conference that the Pakistan board would take over the Sultans during this PSL, which is expected to begin on March 26.

Multan Sultans Sold Ahead of PSL 2026

Multan Sultans Sold for Record Price and Renamed to Rawalpindi Ahead of PSL 2026

The Multan Sultans franchise has been sold for a record 2.45 billion PKR and will now compete as Rawalpindi in PSL 2026. The high-profile Pakistan Super League auction attracted notable figures from the cricketing world, including former PCB chairman Najam Sethi, legendary batter Zaheer Abbas, and Lahore Qalandars owners Sameen Rana and Atif Rana.

Regarded as one of the most successful PSL franchises, the Multan Sultans have always generated strong interest among bidders for ownership rights. The team became available for auction after its former owner, Ali Tareen, declined to renew the 10-year ownership agreement.

Interestingly, the franchise did not retain a single player ahead of the upcoming season. Captain and wicket-keeper opening batter Mohammad Rizwan was released, along with other key players, following a less-than-stellar previous season. This bold strategy reflects the new management’s vision for the Rawalpindi PSL 2026 team.

The sale marks a significant moment in the Pakistan Super League's history, both in terms of franchise valuation and player retention strategies. Fans will be keen to see how the rebranded team performs in the next season.

FAQs

Q: Who bought the Multan Sultans in PSL 2026?

A: The franchise was sold to new owners and renamed Rawalpindi.

Q: How much were the Multan Sultans sold for?

A: The team was sold for a record 2.45 billion PKR.

Q: Did Multan Sultans retain any players for PSL 2026?

A: No, all players, including Mohammad Rizwan, were released.

Q: Why was the Multan Sultans franchise auctioned?

A: Former owner Ali Tareen declined to renew the 10-year ownership.