Ali Treen Clarifies His Teams Dues
Ali Tareen, owner of Multan Sultans has clarified its position on the issue concerning the team’s annual franchise fee. The Habib Bank Limited (HBL) Pakistan Super League (PSL) franchise.
According to details, Multan Sultan owner Ali Tareen said the team was purchased near the start of HBL PSL4. So the Pakistan Cricket Board (PCB) asked them to pay a portion of the franchise fee in advance and the rest after the tournament. He added that the franchise had already given checks for the remaining amount to the PCB.
It was previously reported that the Multan Sultans participated in the fourth edition of the event without depositing the mandatory franchise fee.
PCB had terminated the franchise agreement of the Multan Sultans franchise, previously, before the start of the fourth season. The termination occurred due to the franchisee’s inability to meet its financial obligations under the Agreement.
In the new bidding process, which followed, the PCB had set the reserve price at $5.21 million per year over seven years. This reserve price had been exceeded by the group led by Ali Tareen. The new owners also decided to continue with the same name for the franchise, namely Multan Sultans.