The Pakistan Cricket Board, on the other hand, is keen to sell the Multan Sultans franchise as soon as legally permissible, changing its earlier plan to delay the sale until the end of the 11th edition of the Pakistan Super League. According to reports, top officials in the PCB and PSL management prefer an early sale, although final approval remains pending from PCB chairman Mohsin Naqvi.
High PSL Franchise Valuations Boost PCB Confidence
That has been driven, at least partly, by the unexpectedly large number of moneys fetched during the PSL’s recent franchise auction. The two new entrants, Hyderabad and Sialkot, were sold for approximately PKR 1.75 and PKR 1.85 billion.
These valuations respectfully surpassed expectations, or nearly three times the valuation of Lahore Qalandars, who, to date, have been considered the most valuable PSL franchise. These strong valuations have led PSL officials to believe that the market conditions are perfect to sell Multan Sultans at a premium price.
Multan Sultans Seen as a Highly Attractive PSL Asset
Unlike the new franchises, Multan Sultans are a well-established franchise in PSL who have been participating in eight seasons of PSL along with the title of PSL winners in PSL 2021. It is believed by PSL officials that the sale of this successful brand of PSL just before PSL 11 could fetch the record-breaking highest bid amount.
PSL CEO Calls for Pre-Season Sale of Players
But, after the auction, PSL Chief Executive Salman Naseer revealed that “I told Chairman Mohsin Naqvi to immediately auction Multan Sultans, and now the stage is set for it.” Although Chairman Naqvi showed some response to this by saying that PCB would get a chance to prove that Multan Sultans could make a profit, it seems that Salman Naseer jokingly continued to request a before-season auction.
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Legal and Regulatory Delays Explained
Earlier, the PCB had given the reason for not auctioning Multan Sultans, along with the new teams, due to Public Procurement Regulatory Authority rules. However, since the ownership change occurred on January 1, there was not enough time to follow due procedures as far as the auction is concerned, given that the ownership change occurred on December 31 from former owner Ali Tareen.
PSL 11 Preparations Are Uncertain
With the upcoming start of PSL 11 on March 26th, there has been confusion over team formation. There has been no clarity on player drafts and auctions, retention policies for existing teams, and appointment of management officials for Multan Sultans.
Debate: Sell Now or Wait for Higher Value?
Some quarters in PCB feel that postponing till after PSL 11 may help further enhance the value for sale if this season also turns out to be a commercial success. Yet, worries also arise regarding market corrections, especially if new owners face struggles in gaining a financial return on their investment.
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A Study of Multan’s Ownership Structure
The PCB is cautious because there is precedent there. Multan Sultans’ ownership in 2018 was handed over to Schon Group, but it pulled out after only one season. Later, Ali Tareen took over the ownership of the same franchise. The ironic part is that it is the same unstable history that is causing thepcb to struggle to maintain sound ownership in their league.
Final Decision Still Pending
Discussion is still under way, and no final decision has come forth. If the PCB decides to go ahead with an early sale of Multan Sultans, then it will have to hasten the process to conclude the process before the start of PSL 11.
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