Side will retain Multan Sultans moniker after claiming ownership for seven years with bid exceeding reserve
Ali Tareen’s Multan Consortium has purchased the “Sixth Team” of the Pakistan Super League, with the side keeping its ‘Multan Sultans’ name.
Earlier, he confirmed that he had submitted his bid to purchase the franchise.
Bid submitted. Poori koshish ki hai to retain the team in South Punjab.
— Ali Khan Tareen (@aliktareen) December 19, 2018
The reserve price set by the Pakistan Cricket Board was $5.21 million per annum for a period of seven years. This reserve price was exceeded by the bid winner.
On November 10, the PCB had terminated a franchise agreement with Schon Properties after they failed to meet its financial obligations.
Ali’s father, Jahangir Tareen, is a close aide of Prime Minister Imran Khan.