Pakistan Super League franchise Multan Sultans has been sold to media, technology, and finance firm Walee Technologies for a record Rs2.45 billion following an auction held in Lahore on Monday. The auction marked one of the most significant commercial transactions in the history of the league, underlining the growing financial value of PSL franchises. During the bidding process, host Fakhr i Alam informed participants that the winning amount would include the annual franchise fee and secure ownership rights for the next 10 years, providing long term operational stability to the new owners. The sale sets a new benchmark for franchise valuations within Pakistan cricket and reflects increasing investor confidence in the league’s commercial future.
Speaking at the auction ceremony, Walee Technologies Chief Executive Officer Ahsan Tahir confirmed that the franchise would undergo a major rebranding following the acquisition. In a surprise announcement, he revealed plans to rename the team after Rawalpindi, signaling a shift in regional identity and market focus. Tahir described the move as part of a broader strategy to expand fan engagement and strengthen the franchise’s connection with a wider audience. While detailed branding and operational changes were not disclosed at the event, the announcement generated immediate attention, as Multan Sultans has competed under its current name since its introduction to the league. The rebranding proposal is expected to be reviewed in coordination with PCB and other stakeholders.
PCB Chairman Mohsin Naqvi congratulated Walee Technologies on the successful bid and highlighted the significance of the moment for Pakistan cricket. During his address, Naqvi acknowledged the role of former PCB chairman Najam Sethi in conceptualising and launching the Multan Sultans franchise. He credited Sethi for laying the foundation that allowed the team to grow into a valuable PSL asset. Naqvi also expressed satisfaction that Sethi was present at the ceremony, describing the transition as a continuation of the vision that began during Sethi’s leadership. The remarks underscored the institutional continuity behind the league’s expansion and commercial development.
In his own address, Najam Sethi described the sale as the realisation of a long held dream and a milestone for the sport in Pakistan. He said he was pleased to witness the franchise achieving a record valuation and noted that the transition taking place during Mohsin Naqvi’s tenure was particularly meaningful to him. Sethi termed the bid a major milestone for Pakistan cricket and hinted that additional positive developments related to the sport, beyond the PSL, could be announced in the coming days. His comments suggested that the league’s growth could have broader implications for domestic and international cricket initiatives in the country.
Walee Technologies, according to information available on its website, operates globally across media, finance, and technology sectors. The company already has experience in sports related ventures, having previously acquired PSL live streaming rights as part of its expanding sports media portfolio. With this acquisition, Walee Technologies enters franchise ownership at a time when the PSL is strengthening its position as one of the most commercially successful T20 leagues in the region. The record sale of Multan Sultans highlights the league’s evolving business model and signals a new phase of corporate involvement in Pakistan’s cricket ecosystem.
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