LAHORE: Ali Khan Tareen, son of former federal minister and Pakistan Tehreek-e-Insaf (PTI) aide Jahangir Khan Tareen, won the ownership rights of the sixth Pakistan Super League (PSL) franchise on Thursday.
The bidding for the sixth team was held in Lahore where The Multan Consortium placed the highest offer.
Breaking: The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price.#HBLPSL pic.twitter.com/2ilyngfJBI
— PakistanSuperLeague (@thePSLt20) December 20, 2018
“The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price,” the PSL tweeted.
The ownership rights have been sold for a period of seven years against a bid of US $5.21 million per annum which “exceeded the reserve price” set by the Pakistan Cricket Board (PCB), said another tweet.
The reserve price set by @TheRealPCB was $5.21 million per annum for a period of seven years. This reserve price has been exceeded by the bid winners.
— PakistanSuperLeague (@thePSLt20) December 20, 2018
Tareen submitted his bid for the acquisition of the ownership rights of the sixth Pakistan Super League (PSL) team on Wednesday. He has expressed his willingness to “retain the team in South Punjab” and naming it Multan.
Multan Sultans, whose contract was terminated by the Pakistan Cricket Board (PCB) upon the failure of the former to meet the financial obligations, was up for bid as the sixth PSL franchise.
In a statement issued by the cricket governing body, it said that the mentioned team was unable to meet the financial agreements thence its membership was terminated.
Tareen had earlier expressed his interest in the buy-off of the sixth PSL team; previously known as Multan Sultans and said that he is in contact with Pakistan Cricket Board (PCB) officials in this regard.
“I have completed the initial work for a tender for PSL 4,” Tareen was quoted as saying. Later on, the PTI leader had said that he was reconsidering his plans to buy the sixth PSL franchise. “Last year when Multan Sultans was sold for 5.2m, I felt it was overpriced. A year later the owners failed to pay PCB, leading to new bids. To keep the team in South Punjab, I planned to bid expecting a price around 4m. But khabr hai ke phir 5m cross ho ga (word is that it will cross 5 million). Now I’m reconsidering,” he had tweeted.
Earlier on Wednesday, Zain Qureshi, son of foreign minister Shah Mehmood Qureshi, also hinted his interest in the buy-off of the sixth team in a tweet.
In an ambiguous tweet, Qureshi wrote that “he wants the sixth team to stay in Multan”.
[…] In December 2018, Ali Khan Tareen, son of former federal minister and Pakistan Tehreek-e-Insaf (PTI) aide Jahangir Khan Tareen, won the ownership rights of the sixth PSL franchise. […]
[…] In December 2018, Ali Khan Tareen, son of former federal minister and Pakistan Tehreek-e-Insaf (PTI) aide Jahangir Khan Tareen, won the ownership rights of the sixth PSL franchise. […]
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