The process of the sale of two new Pakistan Super League (PSL) franchises has been completed. The Pakistan Cricket Board (PCB) had decided to expand the tournament, from six to eight teams, ahead of the 2026 edition.
Nine bidders had assembled at the Jinnah Convention Centre in Islamabad on January 8. PCB Chairman Mohsin Naqvi was present, and Pakistan’s legendary fast bowler Wasim Akram was acting as the auctioneer.
Hyderabad & Sialkot: New PSL Teams
Hyderabad was selected as the city that the bidders wanted. The base price for the franchise was set at PKR 110 crore (approximately INR 35.30 crore). Several showed interest, but it was The Kingsmen Group (FKS) that registered the winning bid. The company owned by Fawad Sarwar bagged the franchise for PKR 175 crore (approximately INR 56.15 crore).
Soon after, Sialkot was finalised as the second city. However, the base price for the franchise was set much higher, at PKR 170 crore (approximately INR 54.55 crore). Considering one bidder was out and the base set at a significant price, only two parties showed interest.
In the end, OZ Developers bagged the Sialkot franchise for PKR 1.85 billion (approximately INR 59.36 crore) and became the 8th PSL team. Combined, the two franchises went for PKR 360 crore (approximately INR 115.51 crore), which will help PCB since they’ll manage the Multan Sultans, whose owner was banned, for PSL 2026.
PSL franchises
| Team | Owner | Home Ground | Founded |
|---|---|---|---|
| Islamabad United | Leonine Global Sports | Rawalpindi Cricket Stadium, Rawalpindi | 2015 |
| Karachi Kings | Salman Iqbal | National Stadium, Karachi | 2015 |
| Lahore Qalandars | Fawad Rana | Gaddafi Stadium, Lahore | 2015 |
| Multan Sultans | To be managed by PCB | Multan Cricket Stadium, Multan | 2017 |
| Peshawar Zalmi | Javed Afridi | Arbab Niaz Stadium, Peshawar | 2015 |
| Quetta Gladiators | Nadeem Oman | Bugti Stadium, Quetta | 2015 |
| Hyderabad | Kingsmen Group (FKS) | Niaz Stadium, Hyderabad | 2026 |
| Sialkot | OZ Developers | Jinnah Stadium, Sialkot | 2026 |
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