Ali Tareen –son of Pakistan Tehreek e Insaf (PTI) leader Jahangir Tareen is the new owner of the Sixth Franchise. He won the rights for Pakistan Super League (PSL) sixth franchise for seven years.
In a tweet by PSL, Ali Tareen was declared the winner of the sixth team.
He has won the ownership rights for seven years after significantly exceeding the reserve price of USD 5.21 million per year. Tareen’s bid of USD 6.35 million won out against a South African consortium, which bid USD 3.5 million for the rights
Tareen wished to keep the sixth team in South Punjab and he succeeded in doing so by buying the team with an exceeded reserve price.
Formerly known as Multan Sultans, Ali will keep the same name Multan of the sixth franchise. If his team had no reservations over the former name, he would go with the same name.
— PakistanSuperLeague (@thePSLt20) December 20, 2018
Multan Sultans was previously sold for $5.2m to Schon Group but just after a year they failed to clear payment and as a result, PCB terminated their franchise rights. With this termination, all the rights reverted back to PCB.
Initially, sixteen bidders showed interest in buying the sixth team but only two bidders qualified for the final stage.
Talking to the media after winning bid he said: “This team is a gift for South Punjab.”
“Name of the team will be announced later after consultation. I have no issues in retaining the old name.” he further added.
The event was held at National Cricket Academy (NCA) Lahore today.
PSL 2019 is set to begin from February 14th in Dubai. League will return to home Pakistan for last eight matches which are scheduled to be played in Karachi and Lahore.