The Multan Sultans franchise has been sold in a landmark deal that reshapes the Pakistan Super League landscape. The Multan Sultans were acquired by Walee Technologies for an annual fee of PKR 2.45 billion, making it the highest-priced franchise sale in PSL history and highlighting growing commercial confidence in the league.

One of the first decisions taken by the new owners was to end the Multan Sultans identity entirely. The franchise will now be rebranded as Rawalpindi, with the Rawalpindi Cricket Ground becoming its home venue. This move leaves the South Punjab region without a PSL team for the first time in nine years, despite the Multan Sultans building a strong fan base during their tenure.

The Multan Sultans sale comes just days before the PSL player auction for its 11th edition, the first season to use an auction-based squad selection system. The franchise had retained no players from the previous season, meaning the new Rawalpindi-based team will build its entire squad from scratch.

PCB chairman Mohsin Naqvi described the Multan Sultans sale as a significant milestone, noting how the franchise once struggled to attract buyers. The record valuation reflects optimism around PSL expansion, with the league set to feature eight teams and run from March 26 to May 3, 2026.