The future ownership of Multan Sultans is set to be decided on February 9, as the Pakistan Super League (PSL) prepares to hold a franchise auction for one of its most successful teams.
According to details, five bidders shortlisted by a Pakistan Cricket Board (PCB) bid committee will compete to secure ownership rights of the 2021 champions.
Earlier this week, the bid committee shortlisted five bidders out of six after a “thorough and transparent” evaluation process. They will now take part in the auction process.
It is worth noting that PCB had formally initiated the process to sell the ownership rights of the franchise, issuing an advertisement inviting interested parties to submit bids for the auction.
The ownership process started when Ali Tareen, the former Multan Sultans owner, confirmed in November that he would no longer continue his association with the franchise.
Tareen decided to step aside after long-running disagreements with the cricket board, which continued for more than a year and eventually made it impossible for both sides to move forward together.
As a result, the PCB took temporary charge of the franchise and formed an independent committee to manage retention matters before the players’ auction scheduled for February 11.
The franchise chose not to retain any players even captain Mohammad Rizwan and will enter the auction with its complete USD 1.6 million budget available for squad building.