KEY POINTS
- New owners immediately confirmed the team would be rebranded as ‘Rawalpindi’ for PSL 11.
- Former owner Ali Tareen’s Deharki Sugar Mills did not place a single bid, marking a full exit.
- The sale sets a new valuation benchmark under the PSL’s revised ownership model.
LAHORE: The Pakistan Super League (PSL) entered a new era on Monday as Walee Technologies acquired the league’s sixth franchise for a record-breaking Rs2.45 billion at an auction held at the Expo Centre Lahore.
The new owners immediately confirmed the team would be rebranded as Rawalpindi for the upcoming PSL 11 season, ending Multan’s representation in the tournament.
Historic auction sets new valuation benchmark
The highly anticipated franchise auction, a cornerstone of the PSL’s revised ownership model, saw corporate interest drive valuations to an unprecedented high. The Pakistan Cricket Board (PCB) had set a base price of Rs1.82 billion for the franchise rights. The bidding commenced at 6:35 PM and quickly escalated into a fierce contest among pre-qualified corporate entities.
🚨 MOST EXPENSIVE TEAM IN HBL PSL HISTORY 🚨
Team Multan is sold for a record PKR 2️⃣4️⃣5️⃣ crore 🥳
Watch LIVE: https://t.co/qoi3S0Ynkt #HBLPSL | #NewEra pic.twitter.com/xoVDEply1T
— PakistanSuperLeague (@thePSLt20) February 9, 2026
A fierce bidding war culminates in record sale
Walee Technologies opened the bidding at Rs1.9 billion, sparking an intense back-and-forth with competitors CD Ventures and Particle Igniter. The three parties engaged in a rapid succession of counter-bids, steadily driving the price upward.
After a prolonged and competitive process, Walee Technologies re-entered with a decisive and final offer of Rs2.45 billion, securing the franchise at the highest price in PSL history.
The PCB had shortlisted five qualified bidders for the auction: Walee Technologies, Aim Next Inc, Deharki Sugar Mills, Particle Igniter, and CD Ventures.
Notably, the franchise’s former owner, Ali Tareen’s Deharki Sugar Mills, did not participate in the bidding, marking a complete exit from the team they previously operated.
✨ First ever HBL PSL 11 PLAYER AUCTION ✨
A #NewEra Begins
📅 Date: Wednesday, 11th February 2026
Read more: https://t.co/5WDJrVccPL#HBLPSL pic.twitter.com/6XQDTi6tWf
— PakistanSuperLeague (@thePSLt20) January 25, 2026
A new identity: Welcome to Rawalpindi
Immediately following their successful bid, representatives from Walee Technologies announced their intention to rename and relocate the franchise. The team will now be known as Rawalpindi, bringing premier T20 cricket to the bustling city and its iconic Pindi Cricket Stadium for the first time in the league’s history. This move formally concludes Multan’s stint as a PSL city after several seasons.
With the franchise secured, the new ownership is expected to formally unveil the team’s branding, management structure, and commercial strategy in the coming week. The focus will now shift to squad formation and preparations for PSL 11, which will be the first season conducted under the league’s new auction-based player acquisition system.
