LAHORE: The Pakistan Super League (PSL) franchise, Multan Sultans, was sold for a massive Rs. 2.45 billion in a bidding auction held at Expo Center Lahore.
The highest bidder, Wali Tech, secured the franchise with a bid of Rs. 245 crore and renamed the team *Rawalpindi*.
The auction was attended by Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi, former PCB Chairman Najam Sethi and former national team captain Zaheer Abbas.
The base price for the Multan Sultans franchise was set at Rs. 182 crore, and five bidders competed for ownership rights. After a competitive bidding process, the franchise was sold for the record-breaking amount of Rs. 2.45 billion, making it the most expensive PSL franchise to date.
Wali Tech purchased the franchise for a 10-year period, and the team, formerly known as Multan Sultans, will now be called Rawalpindi in the upcoming PSL season. This deal has made Multan Sultans the highest-priced franchise in PSL history.
