Multan Consortium led by Ali Khan Tareen wins franchise rights for PSL's sixth team

[Abdullah719]

The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price.

The rights have been awarded for seven years

The reserve price set by PCB was $5.21 million per annum for a period of seven years. This reserve price has been exceeded by the bid winners.

 

[mak36]

The Multan Consortium led by Ali Tareen has won the franchise rights for the sixth team, by exceeding the reserve price.

The rights have been awarded for seven years

The reserve price set by PCB was $5.21 million per annum for a period of seven years. This reserve price has been exceeded by the bid winners.

Best of both worlds; a committed investor with vision who also met the reserve price. Brilliant!

 

[Abdullah719]

 

[Sher Khan]

Great to see. He is only 21. Full of determination and already running an NGO in south Punjab.

 

[Arham_PakFan]

Congrats to him. Good to see that he won. He seems committed and has a good vision for cricket.

 

[RehanG]

So it's going to be Multan the sixth team name

 

[UN talkz]

✌ congrats to Ali

 

[KyoOne]

So it's going to be Multan the sixth team name

He may as well name it after Lodhran, his home constituency

 

[Titan24]

Sold for $6.3 m, which tells you how the brand value is increasing every year.

 

[RehanG]

He may as well name it after Lodhran, his home constituency

He already conformed that it's going to be Multan.

 

[MenInG]

So it's going to be Multan the sixth team name

Yes but whether it will Sultan or not is open to discussion

 

[moghul]

Wonderful, best of luck. I have great hopes from the young owner and his team, I'm sure he will bring positive changes to the cricket in Southern Punjab.

 

[Angrez Pakistani]

I hope he successfully manage the franchise and makes it into a great brand. I wish him good luck. However, in principle, I don’t like politicians taking up PSL franchises. More often than not, politicians in Pakistan brings disrepute to their names and the things associated to them. Therefore I don’t like what I’m seeing right now.

 

[Savak]

So he bought the over valued franchise after all by paying $2.3 million extra than he wanted too?

I hope he realizes that he has to pay this amount to the pcb every year for the next 7 years and that this is not just a one time thing

 

[Abdullah719]

Consortium also includes:

Alamgir Tareen (Ali Tareen's uncle) - the official franchise owner/operator of Pepsi in South Punjab. ‬Largest shareholder of consortium.

‪Taimur Malik - an international lawyer based in Dubai but raised in Multan.



Ali Tareen is the director operations.

 

[Abdullah719]

Consortium of Alamgir Tareen and Ali Tareen win rights of sixth HBL PSL team for seven years

Lahore – December 20, 2018: The Pakistan Cricket Board (PCB) has awarded the franchise rights of the sixth HBL Pakistan Super League (PSL) to the consortium of Alamgir Tareen and Ali Tareen for the next seven years following the conclusion of the bidding process in which the winning bid was more than the reserve price of $5.21 million per annum.

Commenting on the successful sale of the franchise rights, PCB Chairman Mr. Ehsan Mani said this was a key step in the growth of the HBL PSL brand.

“I would like to welcome the Multan Consortium of Alamgir Tareen and Ali Tareen to our HBL PSL family,” said Mr. Mani, adding: “The consortium includes passionate cricket patrons who are keen to work with PCB to make HBL PSL a bigger brand. It is also heartening to note that they plan to provide a platform for young cricketing talent.

A delighted Mr Ali Tareen said: “Our goal was to retain the sixth HBL PSL franchise in South Punjab and we have succeeded in that. We want to focus on developing cricket in the region and bringing more players from the region to the top level. The HBL PSL is not only a platform for entertainment but also for cricket development.”

HBL Pakistan Super League 2019 will kick off in Dubai on 14 February 2019, while Multan Consortium will play their opening match on Friday, 15 February, against Karachi Kings.

https://www.psl-t20.com/consortium-...win-rights-of-sixth-psl-team-for-seven-years/

 

[Savak]

I thought Jahangir Tareen was loaded. $6 million by international standards is not a lot, shocked his son had to depend on other investors to pull this through

 

[Chief Destroyer]

In good hands. Hopefully they can exploit the market well.

 

[Hedz]

The guy most people had wanted has successfully pgained the rights
His vision for cricket and development of grass root cricket is what really makes him an attractive option as an owner
Hope he is successful in his attempts to form a mini-PSL for local players and a women’s PSL in the near future

 

[zoeyfactor]

I thought Jahangir Tareen was loaded. $6 million by international standards is not a lot, shocked his son had to depend on other investors to pull this through

Not sure he depended on "other" investors but possible that they had backing of others via equity. $6+ million per year is not a lot of capital for a team owner in international sports, given the wealth revenue streams they have.

 

[SensiblePakFan]

Anyone was better than the schon group who only cared about housing

 

[ARK Rafay]

Anyone was better than the schon group who only cared about money

Fixed.

 

[Goharn]

I thought Jahangir Tareen was loaded. $6 million by international standards is not a lot, shocked his son had to depend on other investors to pull this through

I mean Alamgir Tareen is his uncle who is the majority stakeholder.

 

[MenInG]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Regarding article stating MS yet to pay franchise fee: As the team was bought so close to the start of PSL, PCB asked us to pay a portion upfront & the remainder after the tournament. We have already given cheques for the remaining amount to the PCB. &#55357;&#56397;&#55356;&#57340;</p>— Ali Khan Tareen (@aliktareen) <a href="https://twitter.com/aliktareen/status/1156531872966615040?ref_src=twsrc%5Etfw">July 31, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>