PSL sees record franchise sale as Walee Technologies acquires Multan team
In a landmark moment for the Pakistan Super League, the Multan Sultans franchise has been sold for a record-breaking PKR 2.45 billion (approx. US$ 9 million), making it the most expensive deal in the league’s history. The auction, held in Lahore, marked a major step in the PSL’s efforts to scale both in commercial value and international stature.
🚨 MOST EXPENSIVE TEAM IN HBL PSL HISTORY 🚨
Team Multan is sold for a record PKR 2️⃣4️⃣5️⃣ crore 🥳
Watch LIVE: https://t.co/qoi3S0Ynkt #HBLPSL | #NewEra pic.twitter.com/xoVDEply1T
— PakistanSuperLeague (@thePSLt20) February 9, 2026
The successful bid came from Walee Technologies, a company involved in digital media, finance, and tech ventures — also previously linked to PSL’s livestreaming rights. This new deal ensures them franchise rights for the next 10 years.
The base price for the auction was set at PKR 1.82 billion (approx. US$ 6.5 million), reflecting the second-highest bid placed earlier for the Sialkot franchise, which was eventually sold for PKR 1.85 billion (approx. US$ 6.6 million). After a competitive bidding process involving five shortlisted parties, the final PKR 2.45 billion (approx. US$ 9 million) figure easily surpassed early expectations.
PCB Chairman Mohsin Naqvi, speaking at the post-auction press conference, praised the outcome. “Our aim was to take the team to the highest possible price,” he said.
From Multan to Rawalpindi: new owners announce rebranding
In a surprise move that quickly made headlines, the new owners announced an immediate rebranding of the franchise. “Are you ready for a surprise? We will be going for Rawalpindi!” said Walee Technologies CEO Ahsan Tahir during the ceremony, confirming the name change.
While the new ownership was given full freedom to make branding decisions, Naqvi acknowledged the emotional value of the Multan Sultans name. “I cannot ask the person paying Rs2.45bn to keep the name Multan Sultans,” he said, adding, “For me, Multan Sultans is very close to my heart, so we will come up with a solution.”
A shift in PCB’s auction strategy
Multan Sultans’ sale had originally been expected to happen after the upcoming PSL 11 season, scheduled from March 26 to May 3. However, the PCB revised its strategy following strong market interest and optimism around the league’s commercial momentum.
The franchise had been without an owner since November, when Ali Tareen’s decade-long contract ended and he opted not to renew. The PCB had initially announced it would manage the franchise itself for the season. But a shift in sentiment led to a formal bidding process being initiated on January 14, with technical evaluations completed by February 3. Six proposals were received; five were shortlisted.
Naqvi addressed the media alongside Walee Technologies representatives and reflected on the turnaround. “They can see now. When effort is made, results follow,” he said, referencing the critics who doubted whether the team could command even a PKR 1 billion (approx. US$ 3.6 million) valuation.
He also shared that the Prime Minister had been tracking the auction closely. “He [PM Shehbaz] was happy to see how we are moving towards success,” Naqvi said.
PSL’s growing value and Najam Sethi’s legacy
The historic sale also became a moment of reflection for the league’s founding figures. Former PCB Chairman Najam Sethi, who launched the Multan franchise during his tenure, was present at the ceremony and invited onstage.
“Multan Sultans was created by Najam Sethi sahib; we are so pleased he is with us today,” Naqvi said.
Sethi described the sale as both a personal and national milestone. “I’m obviously delighted to be here; this is the culmination of a dream come true,” he said. Acknowledging Naqvi’s leadership, he added, “I’m obviously over the moon that it’s come through under Mohsin Naqvi, who is a dear, dear friend of mine.”
Najam Sethi, reflecting on the significance of the auction, said, “This is a great moment for Pakistan cricket,” highlighting that the franchise’s record-breaking sale marked not just a commercial triumph but also a major step forward for the country’s cricket ecosystem.
Naqvi echoed that sentiment, linking the franchise’s rising valuation to PSL’s growing appeal among international players. “The dream he had has increased in value, and international players are coming to Pakistan,” he said.
A defining moment for PSL’s global aspirations
Beyond the headlines and record-breaking numbers, the sale of the Multan franchise — and its rebranding as Rawalpindi — signals a significant shift in the league’s commercial and strategic direction. The PCB has framed the transaction as not just a successful business deal, but a validation of PSL’s growing international relevance.
With long-term ownership secured, an emerging tech firm at the helm, and a new identity on the horizon, Rawalpindi (formerly Multan Sultans) could now serve as a test case for how far the PSL can evolve into a globally competitive product.
For the PCB, this auction wasn’t just about handing over a team — it represented a strategic move to elevate the PSL’s stature on the global stage. The combination of long-term ownership, rising market confidence, and a rebranded franchise reflects the league’s broader ambitions to position itself as a world-class cricketing product.
