Multan Sultans have returned to the Pakistan Super League (PSL) after a majority takeover by CD Ventures.
OZ Developers originally purchased the newly established Sialkot Stallionz for Rs 1.85 billion during January’s PSL auction.
The company ran into financial trouble, and CD Ventures acquired a majority stake in the franchise.
Instead of building a new brand from scratch, the new owners wanted to revive an identity that fans are already familiar with.
In a press conference on Tuesday, PSL chief executive officer Salman Naseer confirmed CD Ventures’ request to change the team’s name to Multan Sultans had been officially accepted.
The Multan Sultans team was established in 2017 as PSL’s sixth franchise ahead of the third season.
The franchise won their first PSL title in 2021, defeating Peshawar Zalmi in the final. They reached the final in the following three seasons but lost all of them.
Walee Technologies acquired the team for Rs 2.45 bn last month, but they chose to relocate and rebrand it to Rawalpindi, making the Multan Sultans name available for another to pick up.
CD Ventures chief Gohar Shah was unsuccessful in buying the Multan franchise as he was outbid by Walee Technologies.
But in a twist of fate, he acquired Sialkot Stallionz and rebranded it as Multan Sultans.
The new PSL season is scheduled to start on March 26, with the latest edition marking the league’s expansion from six to eight franchises.
