In a significant development just weeks before the tournament”s 11th edition, the HBL Pakistan Super League (PSL) franchise recently acquired as the Sialkot Stallionz has been officially renamed the Multan Sultans, following a deal that saw the total franchise fee rise to PKR 20 billion.
The major announcement was made on Tuesday by HBL PSL Chief Executive Officer Salman Naseer during a media conference at Gaddafi Stadium. The rebranding follows the acquisition of the franchise by OZ Developers for PKR 18.5 billion over a 10-year period.
OZ Developers have since formed a strategic partnership with CD Ventures, leading to the appointment of Gohar Shah as the new Chief Executive Officer for the organisation. Mr Shah was a previous bidder for the Multan Sultans team during a prior record-breaking auction held in Lahore.
In his first official act, Mr Shah, who originates from South Punjab, formally requested the Pakistan Cricket Board (PCB) to approve the name change. The PCB sanctioned the request upon the payment of a one-time license fee and an increase to the franchise fee, amending the 10-year agreement to a total value of PKR 20 billion.
Welcoming the new leadership, Salman Naseer stated, ‘We welcome Gohar Shah on board as the new CEO of Multan Sultans and to the HBL PSL family. The voices of our fans from South Punjab have been heard as New Sultans now take the reigns of the Stallions.’
Addressing the supporters of the previous team identity, Naseer added, ‘To our amazing Sialkot fans, we understand the nostalgia and the love you had for the Sialkot Stallions. While the team may have a new home in Multan, the spirit of Sialkot”s passion and cricketing legacy lives on and we will find ways to make it up to you!’
The newly appointed Multan Sultans CEO, Gohar Shah, remarked on the occasion, ‘Bringing Multan Sultans back to represent the people of South Punjab is both a privilege and a responsibility. This franchise carries a proud legacy and our commitment is to build on that foundation with professionalism, stability and a brand of cricket that excites our fans and strengthens Pakistan’s game at every level.’
During the press conference, it was also confirmed that the 11th edition of the HBL PSL will commence on 26 March. The opening fixture will feature Lahore Qalandars against Hyderabad Kingsmen at Gaddafi Stadium.