Multan Sultans sold for record PKR 245 crore; Walee Technologies buy ex-PSL champions

Multan Sultans bought by Walee Technologies [Source: X]In the latest development, Multan Sultans, the PSL franchise, has been sold to Walee Technologies for PKR 245 crore. The base price before the auction was set at PKR 182 crore and the new owners of the team outclassed five other bidders to take control of the former PSL champions.There was a tug of war between CD Ventures and Walee Technologies before Particle Igniter entered the race, but at 245 crore, the Igniter left the bidding as the franchise was sold for a record price at the Expo Centre Lahore. Interestingly, the new owners have scrapped Multan Sultans from their team name, and have gone in with Rawalpindi City as a new name is likely to be announced soon.Interestingly, the former owner, Ali Tareen, was a part of the auction with his company Deharki Sugar Mills (DSM), but he didn’t place a single bid.Meet Multan Sultans' new owner, Walee TechnologiesWalee Technologies, the new PSL team owner, is a prominent Mar-Tech and Fin-Tech firm, founded in 2019. The group mainly works in influencer marketing, social commerce and digital solutions.The organisation provides digital, data-driven, and technological solutions, and the company has its reach in Middle-East, North Africa, Pakistan, and Turkey.Ahsan Tahir is the founder and CEO of the Walee Technologies group, and he is a veteran in technological work, with specialisation in AI, and big data.How the bidding war went for Multan SultansThe base price for the franchise was 182 crore as six teams entered the bidding room with the intention of acquiring the franchise. The bidding started with CD Ventures and Walee going hammer and tongs against each other.Just when it looked like a two-horse race, in comes Particle igniter before Walee stepped away for a brief moment. However, at the last moment, the digital and technological firm struck a masterstroke as they pit in a bid of PKR 245 crore, and that was not countered by anyone.Why was there a bidding process for Multan Sultans?Ali Tareen, the owner of the Multan Sultans, left the team following his public dispute with the Pakistan Cricket Board (PCB) in late 2025. The issue was regarding league governance and finances, and Tareen decided not to stay a part of the PSL. Tareen publicly criticised PCB for handling the league and its financial structure.He had a dispute with the PCB management and for his verbal attack on the PSL management committee, the league issued a legal notice, and it threatened to blacklist Tareen from the PSL.The PCB renewed contracts of all PSL franchises, barring the Multan Sultans, as Tareen exited the team and the franchise was kept under the supervision of the PCB. Tareen was even offered a chance to apologise to the PSL management, but he refused and as a result, the feud between the two parties escalated.Chance for Walee Technologies to build perfect team on WednesdayThe PSL auction is set to take place on Wednesday, February 11, and 879 players from across the globe have registered their names for the marquee event. The auction provides the new team owners a chance to start from scratch and build a solid team for the upcoming season.Apart from the new owners of Multan, two new teams (Sialkot Stallionz and Hyderabad Houston) have also become a part of the PSL family, and they, too, will have a chance to strengthen their side in the auction as the new franchise aims to win the coveted title.Teams have announced their retention list, and some high-profile players have been released as they enter the auction pool.