PSL expands to eight teams as record-breaking auction brings Hyderabad and Sialkot on board
Special Correspondent
The Pakistan Super League (PSL) entered a landmark new chapter on Thursday as two new franchises were sold at unprecedented prices, officially expanding the league to eight teams from its 11th edition. The high-profile auction, held at the Jinnah Convention Centre, reflected growing investor confidence in Pakistan cricket and marked the most expensive franchise sales in PSL history.
After intense bidding battles, FKS Group secured the Hyderabad franchise for Rs1.75 billion, while OZ Developers clinched Sialkot for a record Rs1.85 billion, the highest-ever bid for a PSL team.
A night of high stakes and big statements
The auction unfolded in two dramatic rounds, each attracting strong interest from a diverse group of local and international bidders. The base price for the seventh team was set at Rs1.1 billion, while the eighth team carried a higher base valuation of Rs1.7 billion, underlining the league’s growing commercial worth.
The first round saw FKS Group locked in a competitive duel with fintech firm i2c, as bids rapidly climbed well beyond expectations. When the dust settled, FKS emerged victorious with a final offer of Rs1.75 billion, later confirming Hyderabad as the home city for their franchise.
Moments later, attention shifted to the second round, which turned into a tense face-off between OZ Developers and i2c. With the bids escalating in quick succession, i2c’s final offer reached Rs1.82 billion before OZ Developers raised the bar to Rs1.85 billion, sealing the deal and securing Sialkot.
New cities, new energy
The inclusion of Hyderabad and Sialkot brings two historically rich cricketing centres into the PSL fold for the first time. League officials said the decision aligns with the PSL’s long-term growth strategy, aimed at expanding its geographic footprint and tapping into passionate fan bases beyond the traditional strongholds.
Sialkot, renowned globally for its sports manufacturing industry and deep cricketing roots, now joins the PSL map with renewed pride. Hyderabad, meanwhile, becomes the second city from Sindh to feature in the league after Karachi, restoring top-tier cricket representation to the region.
Both franchises will make their debut in PSL 11, scheduled to run from March 26 to May 3.
A strong field of bidders
The auction featured 10 qualified bidders, highlighting the league’s rising appeal among corporate Pakistan and overseas investors. Participants included:
- FKS Group
- OZ Developers
- Inverex Solar Energy
- Jazz
- i2c
- DSM
- Aim Next Inc
- Prism Developers
- VGO TEL
- Walee Pakistan
Former Pakistan captain Wasim Akram hosted the proceedings, joined on stage by PSL CEO Salman Naseer, who described the auction as the culmination of a decade-long journey.
“Ten years of PSL have led us to this moment,” Naseer said, as Akram reminded bidders that owning a franchise meant more than just cricket—it was about identity, branding, fan engagement and building a legacy.
Leadership, recognition and confidence
Before the bidding began, PCB Chairman Mohsin Naqvi presented cash awards to national teams for recent international successes. The Rising Star Asia Cup-winning team received Rs90 million, while the Hong Kong Sixes champions were awarded Rs18.5 million, reinforcing the board’s emphasis on performance and reward.
Addressing the gathering later, Naqvi termed the auction a “historic moment,” saying it reflected renewed confidence in Pakistan and its cricketing economy. He congratulated the people of Hyderabad and Sialkot and assured the new franchise owners of full PCB support over the next decade.
Emotional moments and notable absences
Earlier in the day, former Multan Sultans owner Ali Tareen announced his decision to stay out of the auction. In a heartfelt message on social media, Tareen said his association with Multan was always about representing South Punjab, a region close to his heart.
“This year, I’ll be in the stands,” he wrote, adding that he would consider returning when the Multan franchise is officially put up for sale in the future. The PCB later confirmed it would operate Multan Sultans for the upcoming season before offering it for sale.
What lies ahead
With Hyderabad and Sialkot confirmed as the seventh and eighth teams, the PSL now enters a new era of expansion. League officials said further announcements regarding team names, branding, schedules and venues will be made in the coming weeks.
The record-breaking bids not only redefine franchise valuations but also underline the PSL’s evolution into a mature, commercially robust league. As cricket’s biggest domestic spectacle in Pakistan prepares for its 11th season, the addition of two new teams promises fresh rivalries, wider regional representation and a renewed sense of excitement for fans across the country.
The PSL’s journey, it seems, is no longer just about cricket—it is about growth, belief and the future of Pakistan’s sporting landscape.
