Multan Sultans sold for record price ahead of Pakistan Super League (PSL) 2026

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 for 2.45 billion and renamed to Rawalpindi

The auction ceremony was attended by the former chairman of the Pakistan Cricket Board (PCB), Najam Sethi, the legendary former batter of the country, Zaheer Abbas, the Lahore Qalandars owners, Sameen Rana and Atif Rana, among some of the prominent figures of the cricketing fraternity.

Multan Sultans are regarded as one of the PSL’s most successful franchises, which has strong interest among the bidders for the ownership rights. It’s worth recalling that the franchise became available after its former owner, Ali Tareen, declined to renew the 10-year ownership agreement, as the fresh auction for the side was announced.

Quite surprisingly, the Multan Sultans were the only team not to retain any player ahead of the upcoming season, which saw them releasing their captain and the wicket-keeper opening batter, Mohammad Rizwan/ They didn’t have a great season, which has resulted in this decision from the franchise management.