Ali tareen, son of Jahangir Tareen, has won the franchise rights for The Sixth Team of the Pakistan Super League (PSL) by pitching the most attractive bid to the Pakistan Cricket Board.
The ownership rights for the Sixth Team was to be decided through bidding. The process continued for two days and Tareen has now got the ownership of the sixth franchise for seven years.
While talking to media, Tareen said, “Once again we have included South Punjab team in the PSL and we will find out talent from all-around the region”
“PSL provides opportunity to the young talent in the country,” he added.
The young owner of the franchise also confirmed that the team name will be after Multan.
According to PCB, the board had set the reserve price at $5.21 million per year for a period of seven years which has been exceeded by the bid winners.
Earlier, Pakistan Cricket Board (PCB) had terminated the franchise contract of Multan Sultans with Schon Group because of not meeting the financial obligations.
Schon Group acquired the rights for the sixth team against $5.2 million per annum ahead of the third edition of the league, which became the most expensive franchise of the PSL, surpassing Karachi Kings as the most pricey franchise.
PCB took the responsibility of the team, players and coach contracts. They also picked the players during PSL 4 drafts.