Walee technologies acquires former Multan PSL franchise for record Rs2.45 billion, team to be renamed Rawalpindi

Walee Technologies has secured ownership of the former Multan Pakistan Super League franchise after winning the rights for a record Rs2.45 billion at the PSL auction held on Monday, with the company confirming the team will be rebranded as Rawalpindi ahead of the PSL 11 season.

The auction, held at the Expo Centre Lahore, drew significant corporate interest and marked a milestone for the league as franchise valuations surged under the Pakistan Cricket Board’s new auction-based ownership framework. The PCB had set a base price of Rs1.82 billion for the franchise.

Walee Technologies, CD Ventures, and Particle Igniter engaged in a prolonged bidding contest, repeatedly outbidding each other as the price escalated well beyond the initial valuation. Walee ultimately secured the franchise with a decisive Rs2.45 billion bid, the highest price ever paid for a PSL team.

Five bidders had been pre-qualified by the PCB: Walee Technologies, Aim Next Inc, Deharki Sugar Mills, Particle Igniter, and CD Ventures. Notably, Deharki Sugar Mills, owned by former franchise holder Ali Tareen, did not place any bid, signalling a full exit from the team.

Following the acquisition, Walee confirmed that the franchise will compete as Rawalpindi, ending Multan’s association with the PSL after several seasons. The new branding and commercial rollout are expected to be unveiled in the coming weeks, with squad building and commercial operations set to intensify ahead of PSL 11.