LAHORE: The Tareen Group has decided to participate in the bidding for new teams in PSL 2026, according to media reports.
The Group has submitted the documents, and if technically qualified on Saturday, they will get the opportunity to participate in the open bidding with other bidders on January 8.
According to the details, the relationship of Multan Sultans with PSL has been severed, as the Multan Sultan team owner, Ali Tareen, has been continuously criticizing the affairs of the league and an official for some time now.
He also questioned the structure of the PSL through podcasts and social media. When the board sent a notice to Multan Sultans, the owner also tore it up in a video and made sarcastic remarks.
That is why, except for Multan Sultans, all five franchises were offered to renew their contracts with new fees, which all accepted, but the Sultans’ issues could not be resolved.
On social media, Ali Tareen said, “I think it is better to lose it than to run the team on my knees, but if I stand with my head held high, then this is goodbye.”
He had also sent an email to the authorities in this regard.
According to sources, the board had asked him to delete his social media posts while offering an unconditional apology, which he did not accept.
Interestingly, the Tareen Group has also shown interest in buying a new PSL team. One of the 12 companies that submitted bid documents is theirs.
Technically qualified bidders who meet all the conditions will get the opportunity to buy 2 new teams through an open bid at the Islamabad Convention Center on January 8.
According to the rules, current franchise owners cannot participate in the bidding for the new team; however, Tareen will officially be removed from the list of owners after December 31.
Multan Sultans is the most expensive PSL franchise with an annual fee of Rs 1.8 billion. After valuation by a foreign company, its fee would have gone up to Rs 1.35 billion. The new team can be sold for Rs 1.15 to 1.5 billion.
