Multan Sultans sold to Walee Technologies for record Rs2.45bn

Pakistan Super League (PSL) franchise Multan Sultans has been sold to media, technology, and finance firm Walee Technologies for a record Rs2.45 billion, following an auction held in Lahore on Monday.

During the auction, host Fakhr-i-Alam informed bidders that the winning amount would also cover the annual franchise fee, securing ownership rights for the next 10 years.

Speaking at the ceremony, Walee Technologies Chief Executive Officer Ahsan Tahir announced that the franchise would undergo a rebranding, revealing plans to rename the team after Rawalpindi.

“Are you ready for a surprise? We will be going for Rawalpindi,” Tahir told the audience.

Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi congratulated Walee Technologies on the successful bid and paid tribute to former PCB chairman Najam Sethi for conceptualising the Multan Sultans franchise.

“This franchise was created by Najam Sethi sahib, who started this journey. We are pleased that he is with us here today,” Naqvi said, inviting Sethi to the stage.

In his remarks, Sethi described the development as the realisation of a long-held vision.

“I am delighted to be here. This is the culmination of a dream,” he said, adding that he was particularly pleased that the transition had taken place during Naqvi’s tenure.

Sethi termed the record-breaking bid a “major milestone for Pakistan cricket” and hinted that further positive developments beyond the PSL could be announced in the coming days.

According to its website, Walee Technologies is a global company operating across the media, finance and technology sectors. The firm has previously acquired PSL live-streaming rights as part of its sports media portfolio.