LAHORE: Pakistan Cricket Board (PCB) has decided to auction Pakistan Super League (PSL) franchise Multan Sultans due to a good price secured in the recent auction of two new teams, the sources said on Sunday.
The board had announced last month that it would take over control of Multan Sultans due to the expiry of its ownership agreement on December 31, 2025.
The sources had said then that under the proposed plan, the PCB would have to manage the franchise for one year before handing over the franchise to a new owner through an auction in 2027.
If implemented, the arrangement will save the PCB about $4 million a year as it will not have to pay $3 million from the central pool or an additional $1 million in sponsorship funds. However, an audit firm’s report notes that PCB would not receive the franchise fee for the year, which is 8.5 million. USD.
In November, Multan Sultans owner Ali Tareen announced via social media that he would part ways with the PSL franchise. Sources indicate that the relationship between PCB and Ali Tareen had remained strained over the last year and eventually reached a point of no return.
Multan Sultans were initially awarded as the sixth PSL team to the Schon Group under a $5.2m deal, making it the most expensive franchise at the time, double that of Karachi Kings, who were acquired for $2.6m.
Sources say the decision to auction Multan Sultans has been taken as the PCB fetched “a good price” in the recent auction and the inclusion of two new teams, namely Hyderabad and Sialkot, pushes the number of teams in PSL 11 to eight.
Therefore, the board feels that there is no better time to sell Multan Sultans as well and an open bid will be held with an advertisement likely to be issued soon in this regard.
An official announcement will be made soon after reviewing the legal aspects, adding sources say the board expects the franchise to be sold at a good price as well.
