KARACHI: The Pakistan Cricket Board (PCB) is set to earn more than Rs2 billion from the sale of Multan Sultans, with strong interest from both local and foreign bidders ahead of the auction. Sources say at least two companies are prepared to offer bids above the Rs2 billion mark, while the franchise’s former owner has also expressed a desire to reclaim ownership.

The Sultans’ contract was not renewed after disagreements between the previous owner and the PCB. Initially, the board announced it would manage the team itself for the upcoming 11th edition of the league. However, after selling two new franchises at high prices — Hyderabad for Rs1.75 billion and Sialkot for Rs1.85 billion — the PCB decided to auction Multan as well.

The franchise’s former owner cleared outstanding dues to avoid disqualification and even explored the possibility of acquiring a different team name by paying a $1 million fee. Yet, he withdrew minutes before the bidding for the new teams. Later, he requested the PCB to return Multan Sultans to him at Rs1.35 billion, citing an evaluation report. Officials rejected the request, telling him he could only regain ownership by placing the highest bid in the auction.

This exchange reportedly frustrated him, prompting a sarcastic tweet. The PCB’s announcement of the auction also drew criticism from some quarters, as the board had earlier stated it would run the team itself this season. Officials, however, stood firm on their decision.

The new owner of Multan Sultans is expected to be announced in the coming days. Previously, the franchise’s annual fee stood at around Rs1.08 billion, making the expected Rs2 billion sale a significant boost to PCB’s finances.