“The Sultans have at all times meant extra to me than simply numbers” – proprietor Ali Tareen. Picture: PSL/File
KARACHI:
Good bye Multan Sultans, welcome a brand new franchise — the previous house owners have made up their minds. The contract of the Pakistan Tremendous League’s costliest crew has ended, and the official stamp of completion can be positioned on December 31.
Surprisingly, the Tareen Group has determined to participate in bidding for the brand new groups.
In response to particulars, Multan Sultans’ affiliation with the PSL has now formally ended. The contract will formally conclude on December 31.
Staff proprietor Ali Tareen had been criticizing league administration and a PCB official for fairly a while. By podcasts and social media, he questioned the PSL’s construction. When the PCB issued a discover to Multan Sultans, he tore it up on video, making sarcastic remarks.
Because of this, the PCB provided renewal contracts with new franchise charges to all groups besides Multan Sultans — and all 5 different groups accepted. Since phrases with the Sultans couldn’t be finalized, Ali Tareen posted on social media:
“I’d reasonably lose the crew whereas standing tall than run it on my knees — so that is goodbye.”
He additionally emailed officers about his choice. Sources say the PCB requested him to supply an unconditional apology and delete his social media posts, which he refused to do.
Curiously, the Tareen Group has now expressed curiosity in buying one of many two new PSL groups. Out of 12 corporations that submitted bid paperwork, one is theirs. Technically certified bidders can be invited to the open public sale on January 8 on the Islamabad Conference Heart, the place two new franchises can be bought.
Beneath PSL guidelines, present franchise house owners can not bid for brand spanking new groups, however since Tareen will formally not be on the house owners’ checklist after December 31, he turns into eligible to take part.
Multan Sultans had been the costliest PSL franchise, with an annual price of 1.08 billion rupees. A international valuation agency estimated its price at 1.35 billion rupees, and new groups may promote for 1.25–1.5 billion rupees. It’s unclear what profit Ali Tareen would possibly acquire if he manages to accumulate a brand new crew on increased worth.
The bidders for the 2 new franchises come from 5 international locations, together with Pakistan, the USA, Australia, Canada, and the UAE. Individuals embody cell phone, photo voltaic panel, actual property corporations, and different main enterprise teams and personalities. A number of consortiums have additionally been fashioned. The outcomes of the preliminary bidding part can be introduced on Saturday.
The 2 new franchises can have 10-year possession rights from 2026 to 2035, together with each years. The successful bidders will be capable of choose a metropolis identify from Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, or Gilgit. They could additionally suggest a reputation outdoors this checklist, however PCB reserves the best to approve or reject it. A $1 million price can be required for identify registration.
The eleventh version of the PSL will happen from March 26 to Could 3, 2026, that includes eight groups for the primary time.
It’s price noting that Multan Sultans was launched in 2017 because the sixth PSL franchise. Initially purchased by Schon Properties on an eight-year contract, the deal was terminated the subsequent 12 months on account of non-payment of annual charges. PCB quickly took management of gamers’ and coaches’ contracts and issued a brand new tender for possession rights.
In December 2018, Alamgir Khan Tareen and Ali Khan Tareen acquired possession of the crew. In 2021, Alamgir turned the only real proprietor, and after his passing in 2023, Ali Tareen took cost once more.
The PCB has but to determine whether or not it is going to handle Multan Sultans itself in PSL 11 or promote it via a brand new bidding course of. When The Specific tribune tried to contact Ali Tareen for remark, he neither answered name nor replied to message.
