Pakistan Super League (PSL) has witnessed a major commercial and structural change ahead of the 2026 season. Former champions Multan Sultans have been sold to financial technology company Walee Technologies for a record annual fee of $8.8 million, making it the most expensive franchise deal in PSL history.
The auction was held in Lahore on February 9, 2026, where multiple companies participated in the bidding process. After winning the franchise, the new owners announced a big decision the team will now be rebranded and relocated as Rawalpindi.
This development marks the end of the Multan Sultans identity and signals a new phase for the PSL as the league continues to grow in commercial value.
Key Details of the Franchise Sale
| Category | Details |
|---|---|
| Previous Team Name | Multan Sultans |
| New Team Name | Rawalpindi |
| New Owner | Walee Technologies |
| Final Bid Amount | $8.8 Million (approx ₹73 crore) |
| Final Bid (PKR) | PKR 2.45 billion |
| Base Price | PKR 1.82 billion |
| Auction Date | February 9, 2026 |
| PSL Season Impact | From PSL 2026 (PSL 11) |
The final bid comfortably crossed the base price and also broke the previous PSL franchise record set recently.
Also Read: ICC Revenue Share 2024-2027 Explained
Why the Franchise Was Available for Sale
Multan Sultans were earlier owned by Ali Tareen, who had purchased the team in 2018. Under his leadership, the team became one of the strongest sides in the league and won the PSL title in 2021.
However, after PSL 10, the ownership group chose not to renew its long-term agreement due to differences with the Pakistan Cricket Board (PCB). With no confirmed long-term owner, the PCB decided to put the franchise back into open bidding.
The latest auction has now ensured financial stability for the team under new ownership.
Also Read: IND vs PAK T20 World Cup 2026 Confirmed: PCB U-Turn Saves ICC from $174M Loss
New Identity: From Multan to Rawalpindi
After securing the franchise, Walee Technologies CEO Ahsan Tahir confirmed that the team will be shifted to Rawalpindi and will represent the city going forward.
The decision was taken based on the company’s home base and long-term branding plans. With this move:
- The Multan Sultans brand will be discontinued
- A new team identity will be built around Rawalpindi
- Fresh branding, marketing, and fan engagement strategies are expected
While PCB officials have expressed emotional connection with the Multan brand, the board is open to allowing the new ownership to reshape the franchise.
PSL Expansion and Rising Commercial Value
The sale reflects the growing business strength of the Pakistan Super League. In recent months:
- Sialkot franchise was sold for $6.55 million
- Hyderabad franchise went for around $6.2 million
- PSL will now feature 8 teams from the 2026 season
The latest $8.8 million deal shows increasing investor confidence and positions PSL as a rapidly growing T20 league in the global cricket market.
What Happens to the Players?
One of the biggest questions after the rebranding is the future of the existing squad. Multan Sultans had a strong core featuring players like:
- Mohammad Rizwan
- International stars including overseas signings
While no official changes have been confirmed yet, a change in ownership and team identity often leads to:
- Possible squad reshuffling
- New recruitment strategy
- Fresh team structure before PSL 2026
Fans can expect clarity closer to the player draft and season preparations.
With new teams, record-breaking investments, and expanding markets, PSL 2026 is shaping up to be one of the most competitive and commercially important seasons in the league’s history.
The transition from Multan Sultans to Rawalpindi is not just a name change — it represents a bigger shift in the league’s growth, branding, and business direction.
