Six bids received for ownership rights of Multan Sultans: PSL

LAHORE: The Pakistan Super League (PSL) on Monday revealed it received six bids for its franchise, Multan Sultans, set to be auctioned ahead of the landmark 11th edition of the tournament, set to be played from March 26 to May 3.

The marquee league made the announcement through its official social media handles by sharing a graphical banner that read, "We have received six bids. Technical proposal evaluation in progress."

The development came two days after sources suggested that former owner of the franchise, Ali Tareen, was interested in reacquiring the ownership rights of the 2021 champions.

According to the insiders, Tareen, who decided against renewing the ownership contract after the landmark 10th edition of the marquee league due to his differences with the Pakistan Cricket Board (PCB), has decided to partake in the team's auction, expected to be held on either February 8 or 9.

Consequently, Tareen has submitted the required documents to feature in the bidding of the Sultans, sources further revealed.

Notably, the PCB formally invited bids for the ownership rights of the franchise by issuing an advertisement to attract interested parties last month.

The deadline for the submission of documents for technical proposals was set for January 30, with only bidders who qualify on technical grounds set to progress to the next stage of the bidding process.

Earlier, PCB Chairman Mohsin Naqvi announced that it would assume control of Multan Sultans after the expiry of the existing ownership agreement on December 31.

"Multan Sultans will be operated by the PCB this year. Once the PSL concludes, we will carry out the auction and put the franchise up for sale. For this season, the board will run the Sultans," Naqvi had said in December last year.