[14] In April 2017, a few weeks after the conclusion of 2017 Pakistan Super League, PSL chairman Najam Sethi announced that there would be a sixth team in the third season.

[7] In June 2017, the team was established with the franchise having been was bought by Schön Properties after winning a bid for an eight-year contract against 10 contesting bidders.

[10][11] The PCB took responsibility of all player and coach contracts whilst a public tender process took place to sell the repackaged rights for the franchise.

The Sultans started their season against Karachi Kings with a close defeat[24] and went on to win only three matches, again finishing fifth and failing to make the playoffs.

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.

[29] The team's anthem Hum Hain Multan kay Sultans for the 2018 season was sung by Waqar Ehsin.