The Tareen Group has officially entered the race to acquire new Pakistan Super League (PSL) franchises, just a month after Ali Tareen left Multan Sultans.
Media reports indicate the group has submitted the necessary documents to bid for two new teams. They will compete alongside 11 other companies from Pakistan, the UAE, the United States, Australia, and Canada, provided they meet the technical requirements. The auction is scheduled for January 8 at the Islamabad Convention Centre.
This move coincides with Multan Sultans’ impending separation from its current ownership, set to be finalized by the PSL board on December 31. Relations between the Tareens and the league had reportedly deteriorated over recent months.
Ali Tareen has publicly criticized PSL management and a senior official on podcasts and social media, questioning the league’s governance. Following a notice from the board, he posted a video tearing it up and added mocking commentary. Unlike the other six franchises, Multan Sultans was not offered a renewed contract with revised fees.
“I’d rather lose the team than run it on my knees, but stand tall with my head held high. This is goodbye,” Tareen stated on social media, also notifying officials via email. Reports suggest the board requested an unconditional apology and the removal of his posts, which he declined.
Under league rules, current franchise owners cannot bid for new teams. However, once Tareen officially exits on December 31, he will become eligible to participate.
Multan Sultans currently pays an annual fee of Rs. 1.08 billion, the highest in the PSL, with foreign company valuations reaching 1.35 billion rupees. New franchises are expected to sell for Rs. 1.25 to Rs. 1.5 billion.
The 12 bidding entities include companies in mobile phones, solar energy, real estate, and other sectors, with several forming consortiums.
Preliminary bidding results will be announced on Saturday. Successful bidders will hold their franchises for a decade (2026–2035) and may choose team locations from Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, or Gilgit, or propose alternatives subject to board approval. Each franchise requires a one-time fee of $1 million.
PSL’s 11th edition, set to run from March 26 to May 3, 2026, will feature eight teams for the first time.
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