Multan Sultans’ contract terminated

From our correspondent

LAHORE: Pakistan Cricket Board (PCB) has terminated the contract of Pakistan Super League (PSL) franchise Multan Sultans for their failure to submit bank guarantee.

Sultans were due for $5.2 million guarantee for the fourth edition of the tournament.

The property, land and an Escrow account registered in the name of Schon Properties, which own the PSL club, were earlier seized by the Dubai Land Department (DLD), according to Arab News.

Schon Properties had bought the franchise in 2017 with a winning bid of $41.6 million, paying $5.2 million for each season and becoming the most expensive of the six PSL franchises.