Tehreek-e-Insaf leader Jahangir Tareen’s son Ali Khan Tareen on Thursday won the bid for the sixth franchise of the Pakistan Super League (PSL), previously known as the Multan Sultans. The bidding for the sixth team was held in Lahore today.
“The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price,” PSL tweeted.
The reserve price set by Pakistan Cricket Board (PCB) was $5.21 million per annum for a period of seven years. The reserve price was exceeded by Ali.
Earlier the Pakistan Cricket Board (PCB) had terminated the franchise agreement of the Multan Sultans. The termination was brought about due to the franchisee’s inability to meet its financial obligations under the Agreement.