Pakistan Super League franchise (PSL) Multan Sultans on Monday was sold to media, technology and finance company Walee Technologies after a record bid of Rs2.45 billion.
At the auction in Lahore, show host Fakhr-i-Alam informed bidders that the winning bid would also cover the annual fee to maintain ownership of the team for the next 10 years.
Speaking at the auction ceremony, the new owner of the team announced that they would be changing the name to Rawalpindi.
“Are you ready for a surprise? We will be going for Rawalpindi!” announced the company’s chief executive officer, Ahsan Tahir.
Walee Technologies is a global company specialising in projects in the media, finance and technology sectors, according to their website, which added that the company had also earlier acquired PSL livestreaming rights.
More to follow
