Multan expected to sell for over RKR 2 billion

The sale of Multan Sultans is expected to add over 2 billion rupees to the Pakistan Cricket Board (PCB) treasury. According to reports, several foreign parties have shown significant interest even before the auction. The former owner also wishes to reclaim ownership of the team.

Details reveal that due to disagreements between the owner and the PCB, the contract with Multan Sultans was not renewed. Initially, the PCB had announced that it would manage the franchise itself in the upcoming 11th edition of the league. However, after successfully selling two new franchises at high prices, the board changed its plan.

The Hyderabad franchise was sold for 1.75 billion rupees, while Sialkot was sold for 1.85 billion rupees as annual franchise fees. Recently, an advertisement was issued for the sale of Multan Sultans, and the last date for submission of technical bids was today (Friday).

Sources have indicated strong interest in acquiring the franchise, with two companies willing to offer up to 2 billion rupees. However, the final decision will be made through an auction. Interestingly, the former owners are also interested in buying back the team. Previously they want to participate in the bidding for the two new teams as well.

The PCB had told them to clear their dues, otherwise they would be disqualified. They immediately paid the required amount and inquired whether they could select a different team name from those already given. They were informed that, after paying a one million dollar fee and obtaining PCB approval, this could be possible. However, just minutes before the bidding, they withdrew.

Sources further disclosed that the former owner met a senior PCB official, requesting that the team be returned to him for 1.35 billion rupees new price as mentioned in evaluation report claiming that the team “was his and it was his right.” He was told that this was no longer possible since the ownership had officially ended. He could, however, reacquire the team by placing the highest bid during the upcoming auction.

This response reportedly upset him, leading to a sarcastic tweet. Later, when PCB announced the auction, certain quarters questioned the decision, noting that the board had previously said it would run the team itself this year. Nevertheless, officials stood by their decision.

The new owner of the franchise is expected to be revealed within the next few days. Previously, the annual franchise fee for Multan Sultans was approximately 1.08 billion rupees.

When Express Tribune contacted the former owner of Multan Sultans with questions, he chose not to respond.