By Staff Reporter
LAHORE: The Pakistan Super League’s Multan Sultans franchise was sold to Walee Technologies for a record Rs2.45 billion on Monday, with the new owners announcing plans to rename the team Rawalpindi ahead of the tournament’s 11th edition.
The sale, conducted at an auction in Lahore, marks the highest price paid for a PSL team to date. The winning offer would also include the annual fee required to retain ownership for the next 10 years.
Ahsan Tahir, chief executive officer of Walee Technologies, revealed the name change during the auction ceremony. “Are you ready for a surprise? We will be going for Rawalpindi!” Tahir said. Walee Technologies, according to its website, is a global firm focused on projects in media, finance and technology sectors. The company previously secured livestreaming rights for the PSL.
Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi congratulated the buyers and paid tribute to former PCB chairman Najam Sethi, crediting him with establishing the Multan Sultans franchise. “This Multan Sultans was created by Najam Sethi sahib and the person who started this journey; we are so pleased he is with us today,” Naqvi said, as he invited Sethi to join him on stage. In his comments, Sethi expressed satisfaction with the outcome. “I’m obviously delighted to be here; this is the culmination of a dream come true,” Sethi said. “I’m obviously over the moon that it’s come through under Mohsin Naqvi, who is a dear, dear friend of mine.”
Sethi described the winning bid as a “great moment for Pakistan cricket” and suggested Naqvi would soon share positive developments “beyond PSL” in the days ahead. At a subsequent press conference alongside Walee Technologies representatives, Naqvi addressed the implications for the Multan Sultans brand. “I cannot ask the person paying Rs2.45bn to keep the name Multan Sultans,” he said.
Naqvi explained that when the PCB decided to auction the team, the initial plan had been to retain it for one or two years. However, favorable market conditions prompted the move, especially as five or six other teams were already up for sale. He acknowledged potential risks to the franchise’s established reputation, given its history. “For me, Multan Sultans is very close to my heart, so we will come up with a solution,” Naqvi said. Responding to questions about the base price of Rs1.82 billion, Naqvi said it was set based on the second-highest bid received for the Sialkot team, which fetched Rs1.85 billion.
Naqvi also fielded queries on ongoing discussions with an International Cricket Council (ICC) delegation regarding Pakistan’s stance on a match against India in the T20 World Cup, though he framed the matter in the context of Bangladesh. “The issue was Bangladesh’s. We did not want to let their point of view go; they are our brothers and you saw the situation,” he said. “Things are happening, which is why I won’t say much, but the ICC and the Bangladesh board are in that phase where if I say anything, it won’t be right. We’ll update you once we receive information.”
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