Initially, the franchise was owned by Schön Properties for US$41.6 million over eight seasons, but the contract was terminated in 2018 after payment defaults.[8] Later that year, a consortium led by Alamgir Khan Tareen and Ali Khan Tareen acquired the team.[9] Alamgir Tareen became the sole owner in 2021 and remained in that role until his passing in 2023.[10] The franchise is currently managed by the Tareen family group.[11]
Multan Sultans won their first PSL title in the 2021 season by defeating Peshawar Zalmi in the final.[12] The franchise reached the finals in four consecutive seasons between 2021 and 2024, winning once and finishing runners-up three times, establishing itself as one of the PSL’s most consistent sides.[13]
In April 2017, a few weeks after the conclusion of the 2017 Pakistan Super League, PSL chairman Najam Sethi announced that a sixth team would be added for the third season.[6] The Pakistan Cricket Board (PCB) short-listed five regions as possibilities for the new franchise.[15] In June 2017, the franchise was officially established after Schön Properties won the bid for an eight-year contract against ten other contesting bidders.[5]
On 10 November 2018, the PCB announced that the franchise agreement with Schön Properties had been terminated and all rights in respect to the franchise were returned to the board. The termination followed the franchise’s failure to pay the annual fee required by the PCB.[16][17] The PCB temporarily took over the management of all player and coaching contracts while launching a new public tender to sell the repackaged rights for the franchise.
In December 2018, the Multan Consortium, led by Alamgir Khan Tareen and Ali Khan Tareen, won the bid for the team.[18] In 2021, Alamgir Khan Tareen became the sole owner of the franchise[9] and remained in that role until his passing in 2023. The franchise is currently managed by the Tareen family group.[19]
In 2025, the franchise became involved in a public dispute with the PCB regarding the Pakistan Super League's financial and operational structure. In April, franchise owner Tareen criticised the board's approach to the league's expansion and revenue model, arguing that the upcoming season lacked meaningful innovation despite being promoted as the "biggest ever."[20] Later that month, reports indicated that the franchise might seek fresh bidding terms due to the PCB's new requirement of a 25% increase in annual franchise fees.[21] On 23 October 2025, the PCB issued a suspension and termination notice to the Multan Sultans over alleged contractual breaches, warning that the team's rights could be revoked if the issue was not resolved.[22] Sultan's future participation in the league is uncertain pending a legal resolution between the board and franchise.[23]
The side won its first match, defeating defending champions Peshawar Zalmi by seven wickets[30] but finished fifth in the league table, winning four matches and losing five with one no result. They did not make the playoffs.
Ahead of the 2019 season, Johan Botha, who had been assistant coach during the previous season, was appointed as head coach, replacing Moody, who withdrew from his role due to domestic commitments.[31]Wasim Akram also left the team, joining Karachi Kings.
The Sultans started their season against Karachi Kings with a close defeat[32] and went on to win only three matches, again finishing fifth and failing to make the playoffs. Captain Shoaib Malik was the leading run scorer with 266 runs,[33] while Shahid Afridi took 10 wickets to be the team's leading wicket taker for the season.[34]
Ahead of the 2020 season, Shan Masood was named team captain[35] and Andy Flower became the team's head coach.[36] The side reached the playoff stage of the competition for the first time after finishing top of the group. They lost both of their playoff matches and did not reach the competition final finishing third overall.
In 2021, Multan finished second in the group stage and went on to win the PSL final for the first time. After winning the first qualifier match against Islamabad United, who had finished top of the group stage, Multan progressed straight to the final where they beat Peshawar Zalmi by 47 runs and won their first title.
Multan Sultans demonstrated a dominant performance in the tournament, securing the top position in the points table. Winning 9 out of 10 matches, they remained undefeated until losing the finals against Lahore Qalandars.
Multan Sultan played very well in this season they were on 2nd position in table before playoff and after first playoff they directly Qualify to the final after winning the match from Lahore Qalandar which was on the top of point table. However, in the final Lahore Qalandar won the final by very narrow margin of 1 runs.
The team's logo and kit was revealed in September 2017.[37] The team's anthem Hum Hain Multan kay Sultans for the 2018 season was sung by Waqar Ehsin. Pakistan film stars Momal Sheikh, Javed Sheikh, Ahsan Khan, Neelam Munir and actress Sadia Khan were the team's star ambassadors for the 2018 season.[38][39]
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Mohammad Rizwan 
Catherine Dalton 
Will Lintern
