Multan Sultans owner Ali Tareen has announced he will not renew his ownership of the PSL franchise. In a statement Tareen put out on social media, he said he was bidding farewell to the franchise he has owned for seven years. In the statement, he appeared to take a parting shot at the PSL management as well as the differences that appear to have built up between him and the other owners, saying he would "rather lose the team standing on my feet than run it from my knees".

"Being part of this team has been one of the greatest honours of my life," Tareen's statement said. "Despite the financial losses year on year, I never once thought about walking away. The Sultans have always meant more to me than just numbers. And I have always been willing to go as far as needed to protect it."

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