PCB decides to auction Multan Sultans after record sale of new PSL teams

The Pakistan Cricket Board (PCB) has decided to auction the Multan Sultans franchise as well, following the record-breaking sale of two new teams ahead of Pakistan Super League (PSL) 11, 24NewsHD TV reported on Sunday. 

According to sources, the PCB had earlier announced that it would itself manage Multan Sultans during PSL 11.

However, in a fresh development, the board has now opted to sell the franchise through an open auction.

Sources said the auction of the two new PSL teams exceeded PCB expectations, encouraging the board to move ahead with the sale of Multan Sultans.

The PCB believed that this is the most opportune time to sell the franchise, given the strong market response and growing interest from both local and foreign investors.

It was further disclosed that Multan Sultans will be sold through an open bidding process.

An advertisement for the auction is expected to be issued soon, while the PCB will make a formal announcement after completing legal and regulatory requirements.

 The PCB is optimistic that the franchise will fetch a strong price at auction.

It may be recalled that the PCB recently sold two new teams, expanding the PSL to eight teams for PSL 11.

 The new season will feature franchises from Hyderabad and Sialkot in addition to the existing teams.