FKS Group Snaps Up Hyderabad PSL Franchise in Record-Breaking Deal!
In a massive boost for Pakistan cricket, the FKS Group — a US-based aviation and healthcare conglomerate — officially became the proud owners of the new Hyderabad franchise in the Pakistan Super League (PSL). This historic win came during the high-stakes PSL teams auction held on January 8, 2026, at the Jinnah Convention Centre in Islamabad, expanding the league to 8 teams for the first time ahead of PSL 11 (March 26 – May 3, 2026).
Key Deal Highlights
- Winning Bid: PKR 1.75 billion (approximately USD 6.2 million or ~INR 55 crore) — one of the highest annual franchise fees in PSL history!
- The base price started at PKR 1.1 billion, but intense competition (especially with fintech giant i2c) drove the bids sky-high. FKS opened strong at PKR 1.4 billion and kept pushing with bold jumps to seal the deal.
- This fee dwarfs the existing teams’ valuations (highest being Lahore Qalandars at PKR 670 million), showing massive investor confidence in PSL’s growth.
Who is FKS Group & Fawad Sarwar?
FKS Group is a diversified US-based conglomerate with interests in:
- Aviation (FKS Aviation)
- Healthcare (ProCare Health)
- Sports & Enterprises (Kingsmen Enterprise)
They also own the Chicago Kingsmen cricket team in the United States, making this their second major cricket investment.
At the helm is Fawad Sarwar, the president and founder of FKS Group:
- A Hyderabad native (born and raised in the city), he completed his early education there before moving abroad for higher studies.
- He’s been based in the US for over 26 years but has kept strong emotional ties to his hometown.
- Sarwar is a passionate cricket enthusiast who has long dreamed of bringing PSL representation to Hyderabad. After the win, he called it a “childhood dream” and said:“I still can’t believe we’re owners of a PSL team. This is a childhood dream… We all started playing street cricket and backyard cricket.”
He also hinted at big plans ahead, including potential renovations to Niaz Stadium in Hyderabad to boost local cricketing infrastructure and create opportunities for youth talent in Sindh.
Auction Buzz & Extras
The auction was electric — hosted by legend Wasim Akram — with 10 qualified bidders (including Inverex, Jazz, OZ Developers, and more) fighting it out. Prime Minister Shehbaz Sharif even congratulated PCB Chairman Mohsin Naqvi and the new owners personally!
FKS outbid tough competition to claim the seventh slot, while OZ Developers later smashed the record with PKR 1.85 billion for Sialkot (total haul ~PKR 3.6 billion).
Hyderabad fans are buzzing — local pride, packed home games, and fresh rivalries incoming! What do you think of this new era for PSL? Will Hyderabad become the next powerhouse?
