In a significant development that could reshape the PSL’s team ownership model, Multan Sultans’ owner Ali Tareen has announced that he has no plans to renew his current agreement with the Pakistan Cricket Board (PCB).
Ali Tareen shared this news during his appearance on ProSports’ podcast, where he expressed his dissatisfaction with the current revenue-sharing and team ownership model.
“Right now, all the franchises can renew their contracts under a pre-agreed term, which is either the current price plus 25% or the current price plus the new valuation of each team. We have no idea how that will happen, or the difference between that or the 25%. That 25% is the maximum increase. I could accept that right now, but I won’t make that senseless mistake.”
Since acquiring the franchise rights in 2018, the Tareen family has transformed the Multan Sultans from an unwanted expansion team into a PSL powerhouse. Multan has been the most consistent side in the PSL with four consecutive final appearances, winning once in 2021.
However, with the original franchise agreement set to expire at the end of PSL X, Tareen has unofficially informed the PCB through ProSports’ Podcast that he will not be entering into a new ownership contract for the upcoming cycle.
Ali Tareen elaborated on his decision not to renew the Multan Sultans’ ownership agreement with the PCB.
“Why would I want to do that if I’m currently unprofitable? When we bid for Multan, the PSL was growing, and we thought things would continue to improve. The PCB assured us of that as well. But when we came in, it was hopeless because no one was working on this. My plan is to see out my contract and then rebid, knowing the actual value. Why should Multan be three times the price of Karachi Kings? It doesn’t make sense.”
Despite these challenges, Tareen reassured fans that the ownership of Multan Sultans will not be going to anyone else after PSL X, and he still plans to own the team, this time by re-bidding for the team once the contract for all 6 franchises expires after the conclusion of PSL X.
PCB will welcome two new franchises next year but Multan Sultans will not have new owners. Ali Tareen is not willing to walk away from the project he has put all his handwork into.
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