PCB seeks bidders for Multan Sultans, reversing the decision to run the franchise itself

The Pakistan Cricket Board (PCB) has issued a tender inviting bidders, as it has decided to put the PSL franchise Multan Sultans up for auction. The decision comes almost two weeks after the PCB chair, Mohsin Naqvi, announced that the board would run the franchise itself this season.

Why was Multan not auctioned along with new teams?

The ownership of the Sultan was relinquished by Ali Tareen in November after he decided not to renew the contract, unlike the other five league franchises. The timing of the decision halted the board from putting Sultans up for auction alongside the two new franchises, with the PCB citing regulations which require the team to be advertised for sale for a fixed period before auctioning it.

What has changed now?

The two new franchises, Hyderabad and Sialkot, being sold for record-breaking prices that far exceeded the board’s expectations, is believed to have contributed to the reversal of the decision. Hyderabad and Sialkot were auctioned off for PKR 1.75 billion and PKR 1.85 billion respectively, either of them almost three times the retaining fees of the next most expensive franchise, Lahore Qalandars.

It is understood that board officials and PSL management were hoping to benefit from the heightened interest among investors in owning a franchise by selling the Sultans at this point.

Additionally, former owner Tareen is expected to be part of the auction as well. Tareen pulled out of the previous auction on the pretext that he would be willing to buy Sultans whenever the franchise went on sale.

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