Ahead of the beginning of the Pakistan Super League season 11, the Multan Sultans has been auctioned for Rs2.45 billion.

It was also announced that the new name of the team would be changed to Rawalpindi.

“Are you ready for a surprise? We will be going for Rawalpindi!” announced the company’s chief executive officer, Ahsan Tahir.

Walee Tech bought the team after a thrilling competition which lasted almost for an hour. The base price of the Sultans was set at Rs1.82 billion.

The auction ceremony was attended by Pakistan Cricket Board Chairman Mohsin Naqvi and former PCB chairman Najam Sethi, underscoring the significance of the event. Legendary former Pakistan batsman Zaheer Abbas was also present at the auction, adding further prestige to the proceedings.

After former owner Ali Tareen decided not to renew the franchise’s ownership, the Pakistan Cricket Board (PCB) opted to manage Multan Sultans itself for the current season. However, following the successful auction of two new PSL teams, the PCB later decided to put the Multan Sultans franchise up for auction as well.

Speaking on the occasion, PCB chairman Mohsin Naqvi said that efforts were made to sell the Multan Sultans franchise at a good price.

He revealed that he spoke to the prime minister twice over the phone during the bidding, adding that the PM was also enthusiastic about the proceedings.

Naqvi further stated that extensive work is currently underway regarding the Pakistan Super League, highlighting the board’s focus on strengthening and expanding the league.

The long-awaited auction for the Pakistan Super League (PSL) franchise Multan Sultans started at 6:00pm in Lahore.

Sources confirm that five bidders were declared technically qualified to participate in the bidding process. Officials assured that strict protocols and transparency measures would be in place to ensure a fair and credible auction.

The event sparked considerable interest in both cricketing and business circles, as the outcome could shape the future trajectory of the Multan Sultans franchise.