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PSL Expands: Sialkot & Hyderabad Join League After Record-Breaking Bids
Sialkot and Hyderabad win PSL franchises in historic auction, with OZ Developers bidding Rs1.85bn for Sialkot and FKS Group Rs1.75bn for Hyderabad. PSL XI set for March 26-May 3.
ND
by News Desk
2026-01-08
PSL Expands: Sialkot & Hyderabad Join League After Record-Breaking Bids

The Pakistan Super League (PSL) welcomed two new franchises on Thursday, with Sialkot and Hyderabad joining the league for the first time since its inception in 2015. The franchises were secured in a high-stakes auction at the Jinnah Convention Centre, with record-breaking bids setting a new benchmark for PSL team ownership.

OZ Developers won the Sialkot franchise after a bidding war with software company i2c, placing a final bid of Rs1.85 billion, the highest ever in PSL history. Meanwhile, FKS Group secured the Hyderabad franchise for Rs1.75 billion, beating i2c’s offer of Rs1.7bn in the first round of bidding.

The auction, hosted by former Pakistan cricket captain Wasim Akram, saw participation from a diverse pool of investors, including Aim Next Inc, Deharki Sugar Mills, Inverex Solar, Jazz, Prism Developers, VGO TEL, and Walee Pakistan. PSL CEO Salman Naseer and PCB Chairman Mohsin Naqvi were also present, with Naqvi awarding cash prizes to winners of recent youth and international tournaments.

“The last decade of PSL has led us to this moment,” Naseer said, while Akram encouraged bidders by highlighting the opportunities of team ownership, including designing logos, kits, and engaging with players.

The base prices for the franchises were Rs1.1bn for the seventh team and Rs1.7bn for the eighth, reflecting growing investor confidence in the league. The addition of Sialkot and Hyderabad brings the PSL roster to eight teams, alongside Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings, and Multan Sultans. The 2026 season is scheduled to run from March 26 to May 3.

Ex-Multan Sultans owner Ali Tareen, who had been linked with bidding, announced he would not participate this year. “Our time with Multan Sultans was never just about owning a cricket team. It was about south Punjab,” he wrote on X, adding that he would attend matches as a fan this season.

The auction deadline was extended multiple times — from December 15 to December 22, and then to December 24 — amid rising interest from investors across Europe, the US, and the Middle East, following promotional roadshows in London and New York.

With Sialkot and Hyderabad joining the PSL, fans can expect expanded rivalries and fresh talent opportunities, marking a new chapter in the league’s growth.
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