LAHORE: HBL Pakistan Super League franchise Multan Sultans is expected to opt for fresh bidding instead of retaining the franchise under the existing policy of the Pakistan Cricket Board (PCB), which requires a 25 per cent increase on the original purchase price.
Sultans, who joined the league in 2018 — two years after the PSL’s inception — were sold for $6.5 million annually on an eight-year agreement, the highest among all franchises. In contrast, the original five franchises were sold at comparatively lower annual prices and for a 10-year term.
Under the current PCB policy, franchise owners can retain their teams by paying a 25 per cent increment on the original annual fee. This would mean Multan Sultans’ ownership would require an annual payment exceeding $7.9 million, while franchises like Karachi Kings would pay roughly $3.25 million annually — based on their original $2.6 million valuation over 10 years.
Given the substantial financial implications, Sultans’ management appears inclined towards rebidding, though the move carries the risk of losing the franchise to a higher bidder.
A spokesperson for the franchise told Dawn that owner Ali Tareen remained committed to the team and dismissed reports suggesting he intended to part ways following the ongoing PSL season.
“Ali Tareen has not said he is walking away from Multan Sultans,” the spokesperson stated. “We do have the option to renew at a 25 per cent increase, but that would mean operating at a financial loss.”
Ali, through the spokesperson, indicated his preference to re-enter the bidding process in the hope of securing a valuation more in line with that of the Karachi Kings.
“My strategy is to exercise our right to exit the current agreement and bid again—ideally at a more realistic valuation,” Ali said.
Published in Dawn, April 24th, 2025