The landscape of the Pakistan Super League has undergone a tectonic shift as the iconic Multan Sultans franchise officially played its final innings on February 9, 2026. Following an intense, high-stakes auction in Lahore, the franchise was sold for a sum that has shattered all previous league records, marking a historic milestone in the PSL’s commercial evolution.

The transition has not only introduced a new corporate titan to the cricketing world but has also triggered an immediate and dramatic rebranding that moves the team from the heart of South Punjab to the twin cities. While the departure of the Sultans brand marks the end of an eight-year legacy, including a championship in 2021, it signals the start of a deep-pocketed new era for the league’s upcoming 11th edition.

PSL 2026: Multan Sultan’s exit reveals new owner and record-breaking sale price post-shift to Rawalpindi

The auction for the Multan franchise was the most anticipated commercial event in PSL history, culminating in a record-shattering final price of PKR 2.45 billion (approximately $8.8 million) for the annual fee. The winning bid was placed by Walee Technologies, a global financial technology and media powerhouse, led by CEO Ahsan Tahir.

The bidding war was a grueling affair that saw Walee outlast heavyweights like CD Ventures and Particle Igniter, nearly doubling the previous record of PKR 1.85 billion set by the Sialkot Stallionz just last month. PCB Chairman Mohsin Naqvi hailed the sale as a “watershed moment,” noting that the massive valuation was a direct result of the league’s shift to a player auction model. For Walee Technologies, this investment represents a strategic leap into sports ownership, intending to integrate their fintech solutions to revolutionize fan engagement and digital broadcasting for the expanded 8-team tournament.

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The Rawalpindi era begins under CEO Ahsan Tahir ahead of PSL 2026

In a move that stunned the South Punjab fanbase, Walee Technologies immediately exercised their right to rebrand, announcing that the team will now be known as Rawalpindi. This decision effectively dissolves the Multan Sultans identity, shifting the team’s home base to the Rawalpindi Cricket Stadium, which they will now share with Islamabad United.

“Are you ready for a surprise? We will be going for Rawalpindi!” CEO Ahsan Tahir was quoted as saying by The Dawn

CEO Ahsan Tahir cited a deep personal and childhood connection to the city of Rawalpindi as the primary motivation for the relocation. While the rebrand brings a fresh professional identity to the league, it has left a emotional void in Multan, a city that had become a fortress for the Sultans and their ‘Janoob ki Pehchan’ (Identity of the South) slogan. As the newly christened Rawalpindi franchise prepares for the PSL 11 player auction on February 12, the management faces the monumental task of building a brand-new squad from scratch to represent one of Pakistan’s most cricket-crazy cities.

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