PSL franchise Multan Sultans sells for record annual fee of $8.8 million (~₹80 crore)

A financial technology company bought a franchise in the Pakistan Super League (PSL) at a record annual fee of $8.8 million.

Pakistan company Walee Technologies successfully bid for former champion Multan Sultans at an auction held in Lahore that made it the most valued franchise in the history of PSL.

Last month the Pakistan Cricket Board expanded the PSL to eight teams from this season, starting from March 26, with Sialkot going for $6.55 million and Hyderabad for $6.2 million. Sialkot had held the previous sale record.

Soon after winning the bid on Sunday, Walee Technologies announced that it will effectively end Multan Sultans as a franchise and change the name from Multan to Rawalpindi, the city from where the owner is.

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“The journey ahead is going to be highly exciting in the coming weeks, months, and years as we will continue to amaze our fans with various developments,” Walee chief executive Ahsan Tahir said in a statement on Monday.

Initially the PCB had planned to run the franchise on its own for this season after Ali Tareen—former owner of Multan Sultans—didn’t renew his contract when he developed differences with the cricket Board late last year.

However, the PCB changed its mind and put Multan on sale after Sialkot and Hyderabad were sold at a record price.

Published on Feb 10, 2026