Pakistan Super League (PSL) has expanded to eight teams after two new franchises were sold in a competitive auction held on Thursday at Islamabad’s Jinnah Convention Centre.
OZ Developers win Sialkot with record bid
In the second round of bidding, OZ Developers secured the Sialkot franchise after a close contest with software firm i2c. i2c’s final offer reached Rs1.82 billion, but OZ Developers raised it to Rs1.85 billion, setting the highest-ever bid for a PSL franchise.
FKS Group takes Hyderabad in first round
Earlier, FKS Group won the Hyderabad franchise in the first round, also after strong competition from i2c. i2c bid up to Rs1.7 billion, before FKS closed the deal at Rs1.75 billion.
Base prices and expansion details
The Pakistan Cricket Board (PCB) set different base prices for the two franchises. The seventh team had a base price of Rs1.1 billion, while the eighth team started at Rs1.7 billion. With Hyderabad and Sialkot joining the league, both cities will appear in PSL for the first time since the tournament began in 2015.
PSL 2026 schedule
The next PSL season is scheduled from March 26 to May 3, and the new teams are expected to be part of that expanded edition.
Cities considered for new franchises
Several cities were considered for franchise allocation, including Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi, and Sialkot. The final selections went to Hyderabad and Sialkot.
Existing PSL teams
Before expansion, PSL had six franchises:
Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings, and Multan Sultans.
Auction highlights and participants
A number of companies and groups took part in the bidding, including FKS, OZ Developers, Aim Next Inc, Deharki Sugar Mills, Inverex Solar, i2c, Jazz, Prism Developers, VGO TEL, and Walee Pakistan.
The auction was hosted by former Pakistan captain Wasim Akram, alongside PSL CEO Salman Naseer, who described the moment as a major milestone in the league’s 10-year journey. Akram noted that franchise ownership involves more than buying a team—it also includes building a brand through logos, kits, fan engagement, and player interaction.
PCB cash awards before bidding
Ahead of the auction, PCB Chairman Mohsin Naqvi announced cash prizes, including Rs90 million for the Rising Star Asia Cup winners and Rs18.5 million for the Hong Kong Sixes champions.
Deadline extensions and overseas interest
The bidding deadline was extended multiple times—from December 15 to December 22, and then to December 24—as investor interest grew following promotional roadshows in London and New York, with attention from investors across Europe, the US, the Middle East, and beyond.
Ali Tareen withdraws
Former Multan Sultans owner Ali Tareen announced that he and his family would not participate in this year’s auction. He said their previous involvement was driven by representing South Punjab, adding that he would return only for the same reason. For now, he said he would support the league from the stands and be ready when the Multan franchise is sold in the future.
