Ali Tareen wins bid for PSL's Multan Sultans
Ali Tareen has bought Multan Sultans for $ 5.21 million for a period of seven years.
LAHORE (Dunya News) - Ali Tareen, son of former federal minister and now Pakistan Tehreek-e-Insaf (PTI) big wig Jahangeer Tareen on Thursday has bought the ownership rights of sixth Pakistan Super League (PSL) franchise.
The announcement came on PSL official Twitter handle soon after the fall of hammer. Ali Tareen has got rights of Multan Sultans for whopping over Rs 630 million for 7 years.
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According to PSL twitter handle, "the ownership rights have been sold for a period of seven years against a bid of US $5.21 million per annum which “exceeded the reserve price” set by the Pakistan Cricket Board (PCB)."
Breaking: The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price.#HBLPSL pic.twitter.com/2ilyngfJBI
— PakistanSuperLeague (@thePSLt20) December 20, 2018
Earlier, Tareen had hesitated to go for the deal citing the previous $ 5.2 m as somehow inflated bid and dismal performance in 2018 PSL edition. However, Ali Tareen reviewed his decision and eventually bought the team for a period of next seven years. It is important to note that the previous owner of Multan Sultans had failed to pay outstanding amount of the bid leading to its re-auction.
The large part of PSL-4 will be played in UAE. It be reminded that as per PCB schedule total 34 games 8 will be played in Pakistan with five in Lahore and three in Karachi.
