Latest news with #AliTareen
Express Tribune
05-05-2025
- Business
- Express Tribune
What's the problem with Multan Sultans?
This dates back to 2017, when, after the initial success of the PSL, it was decided to add a new team. For the sixth team, PCB signed a deal with Schon Group worth $5.2 milliondouble the price of the then-most expensive team, Karachi Kings ($2.6 million). However, after just their first season, Schon realized they had made a mistake. When the fee wasn't paid, PCB canceled the Super League match tickets In December 2018, Alamgir Tareen, along with his nephew Ali Tareen, bought the team for $6.3 million. Their main aim was simply to acquire the franchise, perhaps without fully considering how they'd cover this higher amount, especially when Schon had already backed out at $5.2 million. Nevertheless, this was a big group with political considerations too, so they absorbed the losses. In 2021, due to certain reasons, Alamgir Tareen became the sole owner. Whatever happened between uncle and nephew are not of our concern. In 2023, after Alamgir's passing, Ali Tareen again became the owner. Currently, the league's 10th season is underway, and even before it started, Ali Tareen began criticizing the financial model. Suddenly, he started pointing out massive flaws in the league and lamenting financial losses. Surprisingly, PCB remained a silent spectator during this time, likely because Ali Tareen belongs to an influential family. He even warned that if the valuation led to higher fees, he would seek rebidding. In another interview, he demanded that Multan's franchise fee be brought down to the same level as Karachi's. Interestingly, back in December when PCB asked the franchises if they wanted to retain ownership, Multanalong with the othersanswered yes. Relations between Salman Naseer and Ali Tareen are also far from ideal. Naseer is now the league's CEO, which complicates things further. After the 10th season, the cricket board will conduct a valuation of all teams, and a minimum 25% fee increase is expected. This could push Multan's annual fee from 1.08 billion rupees to about 1.35 billionclearly a loss-making deal. Ali's complaint might not be entirely wrong, but the timing and tone of his remarks are questionable. His statements have hurt the league's value. Ali Tareen should have voiced these concerns in the Governing Council meetings, but we hear he keeps his mic muted there. Another option was to sit at the negotiation table and explain that his uncle had bought the team, but he couldn't sustain it at this fee and needed reconsideration. While contractually, a fee reduction isn't possible, Salman Naseer is a skilled lawyer who could have found a solution. So, why is Ali Tareen being so aggressive? Recently, two PCB directors, Nadeem Khan and Sami Burney, joined Multan Sultans. Did they give certain advice? Did someone suggest that pressuring PCB through public statements might work? People seem to forget that the current chairman, Mohsin Naqvi, is not someone who yields to pressure. Maybe they've shown leniency out of courtesy for now, but that won't last long. This time, Multan Sultans participated in the PSL half-heartedly. The squad was unbalanced, and a string of defeats overshadowed their past successes. If team valuation weren't based on all 10 seasons, Multan would lag behind. It's odd: the team that built a strong brand now faces the biggest losses. Their franchise fee may rise even more in valuations, while those who sit idle all year and only show up during the league will Super League match tickets Ali Tareen's statements have harmed the PSL more than the team's poor performance. You've never seen IPL owners badmouthing their league. The question arises: why did you buy such an expensive team in the first place? Why stay silent while enduring losses, only to complain now after 10 years? PSL franchise owners should realize that they already had wealththis league gave them celebrity status. How many South Punjab politicians do you know? How many businesspeople's names are familiar to you? But the entire world knows the PSL owners' full history. Wherever they go, fans take selfies with them. Many have likely made money from the league too. The real credit goes to those who took risks when no one knew if PSL would even surviveAtif Rana, Sameen Rana, Javed Afridi, Nadeem Omar, Ali Naqvi, and Salman Iqbal. Those who came later had to pay higher fees. Now, two new teams are set to join next year. After Ali Tareen's remarks, will anyone even buy a team for $6.3 million? They might ask: if Multan Sultans are losing so much, how will we recover our costs? One way is for PCB to sell Multan's team at a high price during rebidding, which would raise prices for the next two teams as well. This league was supposed to grow thanks to its owners, but unfortunately, except for a few, others didn't play an active role. Now new deals are due, and the current situation will cause damage. Until the league grows bigger, higher revenues are unlikely. To make it bigger, everyone must stop complaining and sit together to find new solutions. If you can't do that, let the team gobelieve me, many are ready to take over. The decision is yoursjust don't destroy the league.
Express Tribune
30-04-2025
- Business
- Express Tribune
Ali Tareen warns HBL PSL will struggle to retain foreign talent due to IPL clash
Listen to article Multan Sultans owner Ali Tareen has expressed serious concerns over the HBL Pakistan Super League (PSL) continuing to clash with the Indian Premier League (IPL) calendar. Tareen warned that such scheduling could jeopardize the league's ability to attract and retain top-tier international talent in the coming years. Taking to X (formerly Twitter), Tareen acknowledged that the HBL PSL has enjoyed remarkable growth since its launch in 2016, thanks in large part to the participation of global T20 stars like Darren Sammy, Shane Watson, Colin Munro, and Rilee Rossouw. But with the IPL drawing away more and more high-profile players each season, Tareen questioned whether the PSL could continue to compete on that level. 'Can we keep attracting players of this calibre for the next decade if we keep clashing with the IPL window?' he asked. 'Or will we keep losing our top performers to the IPL after a season or two?' While Tareen admitted there was initial support for scheduling HBL PSL games during the IPL season—particularly as a way to carve out its own identity—he now suggests that approach may be doing more harm than good. His remarks have reignited an ongoing debate within Pakistan cricket circles about player availability, global visibility, and the broader commercial impact of competing directly with the IPL—the most lucrative and widely watched T20 league in the world. The concerns come as several foreign players have prioritized IPL contracts over PSL appearances this year, prompting league officials and franchises to reassess recruitment strategies and the overall competitiveness of the PSL on the international stage. New Zealand great Kane Williamson reportedly joined Karachi Kings late due to his commentary commitments with IPL earlier this year, having gone undrafted in the IPL draft. Tareen's post also clarified his own commitment to the Multan Sultans, denying recent rumours of his exit from the franchise. But his candid take on the PSL's scheduling dilemma suggests major strategic discussions could be on the horizon.
Express Tribune
26-04-2025
- Business
- Express Tribune
HBL PSL tug-of-war continues off the field
The contract between the Pakistan Cricket Board (PCB) and the franchises will come to an end with HBL PSL 10. After conducting a valuation, PCB will grant the existing teams the right to remain in the league; however, the franchise fees could increase by 25% or more. The most expensive franchise, Multan Sultans, pays approximately PKR 1.08 billion annually in franchise fees alone, with other expenses being additional. The team suffers heavy losses every year, which is why, even before the current edition, owner Ali Tareen had started voicing concerns about the model. Recently, during a media interaction in Multan, Tareen clearly stated that if the franchise fee is increased, they would consider going for re-bidding. According to sources within the board, when the PCB approached the franchises a few months ago to inquire whether they wished to retain their teams, all franchises, including Multan Sultans, expressed their willingness. However, suddenly, Ali Tareen began making stern statements, which surprised many. It now seems that Tareen is preparing the ground for a major decision or trying to exert pressure on the board to reduce the fees. Board sources mentioned that, according to the agreement, a reduction in the franchise fee is not possible. After the valuation, an increase is inevitable. If Multan Sultans decides to leave, the team will be re-bid, though it is still unclear whether the current owner will be able to participate in that process. If any one franchise is allowed a reduced fee, other teams will also demand the same, a situation that the board cannot accept under any circumstances. Meanwhile, some circles are questioning why the PCB has not taken any action against Ali Tareen for his controversial statements, with no show-cause notice being issued. Sources suggest that after the valuation, the annual franchise fee for Multan Sultans could rise to around PKR 1.5 billion. Consequently, the pressure on PSL authorities will increase to sell two new teams for over PKR 2 billion each. Given the current market conditions, this will be very difficult to achieve. Therefore, if the Sultan's franchise fee is reduced or maintained, it may allow new teams to be sold for a little over PKR 1 billion, which could be a reason for the league's leniency. However, board sources have dismissed this perception, saying, "Why would we devalue our league? If anyone is dreaming of buying a franchise at a low price, they will be disappointed. Many parties, both in Pakistan and abroad, are ready to join the PSL."
Express Tribune
23-04-2025
- Business
- Express Tribune
Multan Sultans owner denies franchise exit, questions PSL sustainability
Listen to article Multan Sultans owner Ali Tareen has denied rumours suggesting he intends to part ways with the Pakistan Super League (PSL) franchise following the conclusion of the tournament's 10th edition. Speaking to local media after the Sultans' 33-run victory over Lahore Qalandars, Tareen clarified that while his team is reassessing its franchise agreement, there are no immediate plans to exit. 'I never said I'm abandoning Multan Sultans,' Tareen said. 'We are simply exploring options to re-evaluate our franchise agreement after the tenth edition of the PSL.' Tareen raised concerns over the existing PSL financial model, which he described as "unsustainable." He noted that while the franchise holds the option to renew its agreement with a 25 percent increase in cost, such terms are financially burdensome. 'At that price, we're operating at a loss,' he said. The businessman indicated a preference for re-entering the bidding process under revised conditions. 'Hopefully, we can secure the team again at a valuation that makes financial sense, similar to the Karachi Kings' $26 million deal over ten years.' Tareen also referenced the financial difficulties of the franchise's previous owners, who, according to him, 'suffered significant losses and couldn't continue,' prompting his team to step in and stabilise the club's operations. On the sporting front, Tareen expressed satisfaction with the Sultans' first win of the season, especially following their earlier defeat to Islamabad United. 'The coaches and I agreed there was no need to panic. We knew once we got back to Multan, we'd get things back on track,' he said. Despite subdued public interest in PSL Season 10, Tareen reaffirmed the franchise's deep ties to its home base. 'We told the players they're playing for the people of Multan. That connection, that love – it's what drives us.' Highlighting the success of his cricket development initiatives, Tareen pointed to 14-year-old Sheher Bano, a graduate of his cricket academy, who has gone on to represent Pakistan in the Under-19 Asia Cup and World Cup qualifiers. He also praised the early performances of the Sultans' development squad, competing in the President's Trophy Grade-II under the JDW banner. Looking ahead, Tareen announced plans to bolster cricket infrastructure in South Punjab, with projects underway to construct a new stadium in DHA Multan and upgrade existing facilities in Rahim Yar Khan and Bahawalpur. 'Our goal is to create a strong regional network for talent development,' he said.
Business Recorder
23-04-2025
- Business
- Business Recorder
PSL 10: Multan Sultans owner Ali Tareen denies exit rumours
Multan Sultans owner Ali Tareen has dismissed speculation suggesting he plans to part ways with the franchise after the ongoing 10th edition of the Pakistan Super League (PSL 10). Speaking to local media following the Sultans' 33-run win over Lahore Qalandars, Tareen stated, 'I never said I'm abandoning Multan Sultans. We are simply exploring options to re-evaluate our franchise agreement after the tenth edition of the PSL.' Tareen cited concerns over the financial model currently in place, calling it unsustainable. 'We do have the option to renew our contract with a 25 percent increase on the current price. But at that price, we're operating at a loss,' he said. PSL 10: Yasir, Ubaid hand Multan Sultans their first win The businessman indicated his intention to exit the existing agreement and re-enter the bidding process under more favourable terms. 'Hopefully, we can secure the team again at a valuation that makes financial sense, similar to the Karachi Kings' $26 million deal over ten years.' Tareen also acknowledged the struggles faced by the franchise's previous owners, saying they 'suffered significant losses and couldn't continue,' prompting his team to step in and stabilise operations. On the field, Tareen expressed satisfaction with the Sultans' first win of the tournament, particularly after a loss to Islamabad United earlier in the week. 'The coaches and I agreed there was no need to panic. We knew once we got back to Multan, we'd get things back on track,' he said. Amid muted fanfare around PSL Season 10, Tareen reaffirmed the team's commitment to its regional supporters. 'We told the players they're playing for the people of Multan. That connection, that love – it's what drives us.' PSL 10: Can Multan Sultans get it right this time? Tareen also highlighted the growth of his cricket academies, citing the success story of 14-year-old Sheher Bano, who progressed from the academy to represent Pakistan in the Under-19 Asia Cup and World Cup qualifiers. He further noted the performance of the franchise's development squad in the President's Trophy Grade-II, where they have shown early promise under the JDW banner. The Multan Sultans owner also revealed plans to strengthen cricket infrastructure across South Punjab. 'We're working on building a stadium in DHA Multan and upgrading facilities in Rahim Yar Khan and Bahawalpur,' he said, adding that the objective is to build a robust regional network for talent development.
