LAHORE: Ali Tareen, son of former federal minister and Pakistan Tehreek-e-Insaf (PTI) leader Jahangeer Tareen on Thursday has won the ownership rights of Pakistan Super League (PSL) sixth franchise, previously known as Multan Sultan.
Ali Tareen has got rights of sixth franchise ‘Multan Sultans’ for Rs 630 million for 7 years.
PSL official twitter handler said, “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).”
PCB set the reserved price of sixth franchise as $5.21 million per annum for a period of seven years. The reserve price was exceeded by Ali.
Ali Tareen said that the team is a gift for South Punjab and the name of the team will be decided after consultation.”
“If allowed, I have no problem in keeping the team’s name Multan Sultans,” he added.
Earlier, PCB terminated the franchise agreement of Multan Sultans after it failed to meet their financial obligations.
Following the termination of the contract, all rights in respect of the team were reverted back to the PCB.
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