According to sources, the Pakistan Cricket Board (PCB) has decided that Multan Sultans will be put up for auction immediately instead of waiting for next year.
The reason for this accelerated timeline is due to the rising investor appetite for the Pakistan Super League (PSL).
The league’s two new franchises, Sialkot and Hyderabad, have been auctioned, and the PCB reportedly received strong signals from investors that they were potentially interested in buying Multan Sultans. This prompted the board to fast-track its plans.
According to the source, the auction process for Multan Sultans will take place before the upcoming PSL 11 season. Eligible bidders will be invited by the PCB in the coming days by publishing an advertisement.
The auction process is expected to be like the auction process for the Sialkot and Hyderabad franchise auctions. The qualified parties will be allowed to compete through the formal bidding process.
PCB officials believe that the sale of Multan Sultans could provide a much-needed, timely financial boost to PSL., The board could maximise value while the interest in the league remains high.
Currently, the franchise is in a transition phase. PCB has announced that they will handle Multan Sultans’ operations in PSL 11, due to owner Ali Tareen not renewing his ownership agreement. He ended a seven-year association with the team.
Tareen exited due to his differences with the PSL management and the other franchise stakeholders. He has said that owning Multan Sultans was a matter of personal honour for him, and he owned it not for money but for principle. He wanted the team to represent South Punjab.
PCB Chairman Mohsin Naqvi had confirmed that the board would be run by the board on an interim basis, so the franchise is operation for the PSL 11. However, now the sources suggest it might be auctioned before the 11th season starts.
Also read: Most expensive PSL franchise auction doubles PCB earnings
