What happened
The Pakistan Cricket Board sold the Pakistan Super League franchise Multan Sultans for Rs2.45 billion, about $8.7 million, at an auction in Lahore on Monday 9 February 2026, Geo News reported. Walee Technologies bought the ownership rights.
The auction opened with the recitation of the Holy Quran and the national anthem. Five qualified bidders took part after the PCB received six proposals and shortlisted five, with a deadline of 30 January for technical documents. The base price was set at Rs1.82 billion. After a bidding war, the winning bid of Rs2.45 billion proved decisive, and the new owners said the franchise would change its city name from Multan to Rawalpindi.
Background
The sale followed the decision of the previous owner, Ali Tareen, not to renew a decade-long ownership contract after the landmark 10th edition of the league. The PCB temporarily assumed control of the franchise and its chairman initially said the board would run it for PSL 11, scheduled to run from 26 March to 3 May. The board later reversed that decision and put the Sultans up for auction.
Why it matters
PCB chairman Mohsin Naqvi said the board’s aim was “to take the team to the highest possible price”, and recalled that some critics had questioned whether the franchise could fetch even Rs1 billion. “They can see now. When effort is made, results follow,” he said. He added that Prime Minister Shehbaz Sharif called him during the auction and was pleased with the outcome, and that the board wants to make the PSL not just Pakistan’s flagship tournament but a global event.
What is still uncertain
The board did not set out how the proceeds will be used or publish a full breakdown of the bidding. Separately, Naqvi said it was “premature to say something” about Pakistan’s T20 World Cup fixture against India after a visit by ICC deputy chairman Imran Khwaja, and that matters relating to Bangladesh were yet to be decided. He said the PCB was in discussions with the ICC and awaiting a response.
Sources & reporting notes
This article is a synthesis of published reporting, not eyewitness coverage. Sources were reviewed on 9 February 2026.
- Geo News — "Multan Sultans sold for record Rs2.45bn ahead of PSL 11"9 February 2026 · Reports the auction result, the bidders and base price, the franchise's relocation to Rawalpindi and the PCB chairman's remarks.
