Ali Tareen led consortium buys 6th PSL franchise

His consortium made the highest bid of USD 6.35 Million
Updated 22 Dec, 2018 09:05pm

A consortium led by Ali Tareen, has bought the 6th PSL franchise. The ownership rights were purchased for USD 6.35 million, which is higher than reserve price of USD 5.21 million set by PCB. A South African consortium had bid USD 3.5 million.

Alamgir Tareen, who is the Pepsi franchise owner in Southern Punjab, and Taimur Malik, a Dubai based lawyer from Multan make up the consortium along with Ali Tareen. The son of Jahangir Tareen is expected to take up the position of Director Operations.

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Multan Sultans who were part of PSL for a year, were owned by Schon Group, however with the parent company running into financial trouble in UAE, the Group could not submit to PCB the franchise fee and their contract was terminated.

Ali Tareen, has promised to retain the franchise in the same city i.e. Multan. However, it is not clear who owns rights of the brand name Multan Sultan, Schon Group or the PCB after the termination of the contract.

Multan Sultans were able to draft star names in the auction and Ali would hope for a better performance than last year. He is a passionate cricket follower and runs a local cricket website too.