Tareen group has entered the bidding process for new Pakistan Super League (PSL) franchises, marking a surprising turn just days before his official departure as owner of Multan Sultans.

 

According to media reports, Tareen Group has submitted documents to participate in the auction for two new PSL teams, joining 11 other companies from five countries including the United States, Australia, Canada, UAE and Pakistan. If they meet technical requirements, they will compete in an open bidding process at Islamabad Convention Centre on January 8.

 

The development comes as the most expensive PSL franchise prepares to part ways with its current ownership. The board will officially seal the separation on December 31, ending a relationship that grew increasingly strained over recent months.

 

Ali Tareen had openly criticized PSL management and a specific official through several podcasts and social media, questioning the league's structure. When the board sent Multan Sultans a notice, Tareen tore it up on video and posted mocking commentary. The board offered contract renewals with revised fees to all six franchises except Sultans.

 

"I'd rather lose the team than run it on my knees, but stand tall with my head held high. This is goodbye," Tareen wrote on social media, following up with an email to officials.

 

Reports indicate the board asked him to offer an unconditional apology and delete his social media posts but he refused.

 

Current franchise owners cannot bid for new teams under league rules. However, after December 31, Tareen will officially exit the owners' list, making him eligible to participate.

 

Multan Sultans pays an annual fee of 1.08 billion rupees, the highest in PSL. Foreign company valuations push this to 1.35 billion rupees. The new franchises  reportedly could sell for 1.25 to 1.5 billion rupees.

 

The 12 bidding companies include mobile phone manufacturers, solar panel firms, real estate groups and other prominent business entities. Several consortiums have formed. Officials will announce results of the preliminary bidding phase on Saturday.

 

The winning bidders will own their franchises for 10 years, from 2026 to 2035. They can choose team names from Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad or Gilgit, or propose alternatives subject to board approval. They must pay a one-time fee of one million dollars.

 

PSL's 11th edition will run from March 26 to May 3, 2026, featuring eight teams for the first time.

 

Multan Sultans joined PSL in 2017 as the sixth franchise before the third season. Schon Properties bought the team on an eight-year contract, but PCB terminated the agreement the following year over unpaid annual fees. The board temporarily managed all player and coach contracts before issuing tenders for new ownership rights.

 

In December 2018, Alamgir Khan Tareen and Ali Khan Tareen acquired ownership. Alamgir became sole owner in 2021. Following his death in 2023, Ali Tareen took over management.

 

According to reports, PCB has not decided whether it will manage Multan Sultans directly for the 11th edition or sell the team through bidding.