PSL Goes Big! Two New Teams Sold for Record-Breaking Rs 3.6 Billion in Historic Auction
The Pakistan Super League (PSL) has officially gone bigger! On January 8, 2026, the Pakistan Cricket Board (PCB) held a historic franchise auction in Islamabad, adding two new teams and expanding the league from 6 to 8 franchises for PSL 11 (starting March 26 to May 3, 2026). This is the biggest change since Multan Sultans joined back in 2018.
The auction was super intense, with bids smashing all previous records. Here are the exciting details:
1. Hyderabad Franchise
- Purchased by: FKS Group (a US-based aviation and healthcare conglomerate, also owners of Chicago Kingsmen cricket team)
- Bid amount: PKR 1.75 billion (around USD 6.2 million / approx. INR 55-56 crore)
- Key person: CEO Fawad Sarwar (who called it a “childhood dream” and chose Hyderabad as the home base to represent his roots and inspire local talent)
- Fun fact: Bidding started at a base price of PKR 1.1 billion, but fierce competition (especially with i2c) pushed it way higher. This is now one of the most expensive annual fees in PSL history!
2. Sialkot Franchise
- Purchased by: OZ Developers (a real estate consortium, reportedly based in Australia, led by CEO Hamza Majeed)
- Bid amount: PKR 1.85 billion (around USD 6.55 million / approx. INR 59 crore) — the highest ever paid for a PSL team!
- Key highlights: After FKS won the first slot, the base for the second jumped to PKR 1.7 billion. OZ outbid challengers like i2c in a nail-biting finish. Hamza Majeed said it’s a dream for overseas Pakistanis to give back through cricket, and they’re excited to boost Sialkot’s sports legacy!
Total combined value for both teams: Around PKR 3.6 billion (~USD 12.75 million). These prices are much higher than the existing teams (valued between PKR 370-670 million), showing how much the PSL’s popularity and commercial value have grown!
The auction was hosted by cricket legend Wasim Akram, and PCB Chairman Mohsin Naqvi congratulated everyone, calling it a big win for Pakistan cricket. Some big names like former Multan owner Ali Tareen didn’t bid (he’s waiting for Multan to go up for sale later).
Cricket fans in Hyderabad and Sialkot must be buzzing — more local pride, more matches, and even bigger rivalries ahead! Which new team are you most excited for? Hyderabad or Sialkot?
