In a historic moment for the Pakistan Super League auction, Walee Technologies acquired the Multan Sultans franchise for a record Rs2.45 billion on Monday, the highest price ever paid for a PSL team, officials said.
The auction was held at the Expo Centre Lahore as part of the PCB’s expanded auction program ahead of PSL 11. Walee’s winning bid surpassed the base valuation set by the Pakistan Cricket Board and outpaced offers from rival bidders, including CD Ventures and Particle Igniter.
Following the purchase, the new owners confirmed plans to rename the franchise Rawalpindi, marking a relocation of the team’s identity for the upcoming season.
Record Deal in PSL History
The franchise sale broke previous valuation records in the league’s commercial evolution. The initial base price for the franchise had been set at Rs1.82 billion, reflecting strong investor confidence and rising commercial interest in Pakistan’s domestic T20 league.
Walee Technologies’ decisive Rs2.45 billion bid came after intense competition among qualified bidders, who the PCB shortlisted based on technical and financial criteria. Former owner interests, including a proposal by Deharki Sugar Mills associated with previous franchise holders, did not materialize during the live auction.
From Multan to Rawalpindi
The rebranding decision marks the end of the Multan Sultans’ representation in the PSL after several seasons. The franchise, which enjoyed consistent performance and a loyal fanbase, will now compete under the Rawalpindi banner starting with the 2026 season.
Walee Technologies’ leadership announced the new identity, saying the Rawalpindi name reflects their long-term vision for the team’s future. The rebrand will be formally unveiled in the coming weeks as commercial and squad preparations gain momentum.
Auction in Context
The Multan franchise sale is part of the PSL’s broader commercial restructuring, which has seen increased franchise values following the expansion to eight teams for PSL 11. Earlier auctions also saw record bids for the Sialkot Stallionz and Hyderabad franchises, underscoring a new era for the league’s financial model.
League officials and franchise representatives described the successful auction as a milestone for Pakistan cricket’s domestic economy and commercial appeal, reinforcing confidence in the league’s growth trajectory.
What Comes Next
With Walee Technologies now confirmed as owners of the newly named Rawalpindi franchise, attention will turn to finalising team management, coaching appointments, and player retention strategies ahead of the next PSL auction cycle and the start of PSL 11.
