Multan Sultans will return to the Pakistan Super League after all, with Sialkot Stallionz - one of the new franchises at the PSL this season - renaming the side to Multan. The decision was announced at a press conference by PSL CEO Salman Naseer, alongside the franchise's new CEO, Gohar Shah, a former first class cricketer.
The move was telegraphed last week when Naseer hinted there was good news to come for Multan fans, asking them to "wait 48 hours" before any announcement.
"The first thing Gohar did upon assuming the role of CEO was submitting an application to the PCB. He agreed to pay the one-time franchise fee to change the name, and now this team will be known as Multan Sultans."
On top of the fee for the name change, Naseer announced that CD Ventures had agreed to increase the annual franchise fee payments to PKR 2 billion. This was, he said a reflection of the increased value Multan Sultans' name brought by dint of being part of the ecosystem of the PSL as an established, recognised brand.
Last month, the Sultans franchise went up for auction after previous owner Ali Tareen opted not to renew his lease. It was bought by Walee technologies for an annual franchise fee of PKR 2.45 billion, the highest valuation of any side in the league. Following the purchase, they announced they were moving the franchise to Rawalpindi, and named it Pindiz. That effectively finished off Multan Sultans as a PSL franchise after eight seasons in the league.
However, a messy ownership battle and a change of principal ownership has seen the Stallionz franchise taken over by a new ownership group, CD Ventures. After securing 98% shares in the Stallionz, CD Ventures' Gohar Shah assumed the role of CEO for the new franchise.
"I want my region to be represented, which is Multan, and South Punjab. It was very important for me that Multan stayed in the PSL, and will continue to stay in the future."
Naseer also announced that the PSL's opening ceremony would take place in Lahore at the Gaddafi Stadium. The first match will be held in Lahore, between defending champions Lahore Qalandars and new franchise Hyderabad Kingsmen.