Ali Tareen, the passionate owner of Multan Sultans, has made it clear: he’s open to rebidding for the team after PSL 10, but not at the cost of a financial loss. And honestly, who can blame him?
While speaking to reporters at Multan Cricket Stadium, Tareen explained his current dilemma. Yes, he has the option to renew the franchise contract at a 25% higher price, but here’s the catch — that model, he says, is simply not sustainable.
“We do have the option to renew our contract with a 25 percent increase on the current price. But at that price, we are operating at a loss,” said Tareen.
“My plan is to exercise our right to exit the current agreement and rebid for the team — hopefully at a more realistic valuation, similar to Karachi Kings’ $26 million deal over ten years,” he added.
And he’s not just throwing numbers around. He backed it up with facts from the past.
Ali Tareen reminded everyone that the original owners of the Sultans pulled out after just two years — simply because they couldn’t handle the losses. That opened the door for him to step in.
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“The previous owners left because they could not bear the losses beyond two years. That gave us the opportunity to step in. If they had not faced such setbacks, we would not be here today,” he noted.
So while his bond with the team is strong, Tareen isn’t willing to let sentiment override sound business sense.
Tareen says his team is already prepared to rebid for the franchise if needed. They know the ins and outs of running the show and are aware of the profit-loss margins.
“We already know what it takes — how much profit and loss is incurred. We are ready for it. Our contract even includes the right to walk away if we do not agree with the new valuation,” he said, firmly.
While the ownership saga brews in the background, the Multan Sultans’ PSL 10 campaign hasn’t exactly been smooth sailing either. With just one win in four games, they’re currently at the bottom of the table.
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