LAHORE: In a landmark auction for the Pakistan Super League (PSL), the Multan Sultans franchise was acquired by Walee Technologies for a staggering Rs2.45 billion on Monday, marking the highest price ever paid for a PSL team.

The new owners promptly announced a shift in the franchise’s base from Multan to Rawalpindi, exercising an option outlined in the Pakistan Cricket Board (PCB)’s bidding guidelines.

This move, however, leaves South Punjab without representation in the league, prompting concerns from fans and the cricket fraternity.

The auction, held at the Expo Centre here, commenced with a base price of Rs1.82 billion — the exact amount bid by the runner-up in last month’s sale of the Sialkot Stallionz franchise, which fetched Rs1.85 billion.

Five contenders vied for the rights: Walee Technologies, Aim Next Inc, Deharki Sugar Mills, Particle Igniter, and CD Ventures.

The bidding intensified as CD Ventures tabled Rs2.37 billion, but Walee Technologies sealed the deal with their final offer after a brief timeout consideration by rivals.

Ahsan Tahir, CEO of Walee Technologies — a firm specialising in media, technology, and finance — explained the rebranding decision post-auction. “As someone born in Rawalpindi and who played cricket on its streets, this feels personal,” Tahir said.

He noted that the PCB’s advertisement explicitly allowed for city name changes, emphasising it was not an impromptu choice.

Walee had also secured international media rights for PSL 11 last month, signaling their growing investment in Pakistan cricket.

PCB Chairman Mohsin Naqvi, while congratulating the winners, expressed dismay over the loss for Multan. “When I heard the franchise name change from Multan to Rawalpindi, my heart sank, given my special affiliation with the city,” Naqvi remarked. “We will explore options to ensure South Punjab isn’t left out.”

He reiterated the board’s priority to elevate PSL as a global brand, highlighting Pakistan’s untapped market potential for cricket business.

The event drew cricket luminaries, including former PCB chairman Najam Sethi, who launched the PSL in 2016, and legendary batsman Zaheer Abbas.

Sethi praised the league’s growth, crediting Naqvi for steering cricket affairs adeptly. Abbas reflected on the evolution of T20 cricket.

“It’s a game of sixes and boundaries now, unlike our era of technique and patience,” he said.

With the Multan franchise now rebranded as the Rawalpindi outfit, attention shifts to Wednesday’s player auction at the same venue, where all eight teams will finalise squads for PSL 11.

Published in Dawn, February 10th, 2026