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LAHORE: Walee Technologies bought the Multan Franchise and announced to rename it Rawalpindi after the highly anticipated Pakistan Super League (PSL) auction for a record price of PKR 2.45 billion at the Expo Centre Lahore.
06:45 PM – Auction Begins
The PSL franchise auction for the Multan team has officially started. Five bidders are competing to secure the rights for the latest additions to the league.
Base Price for Multan team: PKR 1,820,000,000
CD Ventures makes the first bid of PKR 1,830,000,000
Walee Technologies counters with PKR 1,900,000,000
CD Ventures counters with PKR 1,910,000,000
Walee Technologies counters with PKR 2,000,000,000
CD Ventures counters with PKR 2,010,000,000
Walee Technologies counters with PKR 2,050,000,000
CD Ventures counters with PKR 2,060,000,000
Walee Technologies counters with PKR 2,070,000,000
Particle Igniter counters with PKR 2,140,000,000
CD Ventures counters with PKR 2,150,000,000
Particle Igniter counters with PKR 2,180,000,000
CD Ventures counters with PKR 2,190,000,000
Walee Technologies counters with PKR 2,200,000,000
CD Ventures counters with PKR 2,210,000,000
Particle Igniter counters with PKR 2,250,000,000
CD Ventures counters with PKR 2,260,000,000
Particle Igniter counters with PKR 2,300,000,000
CD Ventures counters with PKR 2,350,000,000
Particle Igniter counters with PKR 2,370,000,000
Walee Technologies counters with PKR 2,450,000,000
The Pakistan Cricket Board (PCB) has confirmed a list of five qualified bidders who will compete for the rights to own the Multan franchise.
The bidders are: Walee Technologies, Aim Next Inc., Deharki Sugar Mills (DSM), Particle Igniter, and CD Ventures.
The successful bidder will acquire the Multan franchise, previously known as Multan Sultans, and may choose to retain the existing name or rebrand the team entirely.
Auction Rules
All bids shall be quoted in Pakistani Rupees (PKR).
The minimum incremental bid from the base price announced by PCB shall be PKR 10,000,000 (rupees ten million only).
No bid increase of less than the minimum incremental bid shall be accepted.
Bidders may choose to make a bid in excess of the minimum incremental bid. No limit.
Each bidder shall have the right to exercise one (1) strategic timeout of up to five (5) minutes, only once during each round of the auction.
During this strategic timeout, bidders may consult with their representatives before deciding their future course of action in the auction, but shall not be permitted to communicate with other bidders.
A bidding round shall be declared closed when the highest incremental bid in excess of the base price is not surpassed by any other bidder despite a final call by the auctioneer.
Upon closure of the bidding round, the highest valid bid in excess of the base price shall be provisionally declared the winning bid.
The franchise is up for sale after former owner Ali Tareen decided not to renew his contract in November 2025, citing strained relations with the PCB that had persisted for over a year.
However, Tareen is once again in the race to take control of the Multan franchise, with his company, DSM, participating in the auction.
For context, Multan Sultans won the PSL title in 2021 under the leadership of Mohammad Rizwan, defeating Peshawar Zalmi in the final.
After winning the title in 2021, they finished as runners-up in the next three seasons.
READ: PSL 11 auction: Base prices of Haris Rauf, Amir, Rizwan revealed
