The Pakistan Super League (PSL) expanded by two to eight teams on Thursday, with Hyderabad and Sialkot officially confirmed as the seventh and eighth franchises after the completion of an auction ahead of the upcoming season.
This is the second time the PSL has expanded; the first saw the Multan Sultans added to the league during the third season of PSL, bringing the total number of participating teams from five to six.
Bidding for the seventh franchise opened at a base price of Rs. 1.1 billion, concluding at Rs. 1.75 billion, offered by FKS Group. After securing the new franchise FKS CEO Fawad Sarwar announced that its home city would be Hyderabad, adding one more team to Sindh and bringing the province’s total to two.
The auction for the eighth franchise, meanwhile, commenced with a base price of Rs. 1.7 billion. In a three-way contest, Aim Next Inc., i2c and OZ Developers battled for the new team. The auction concluded at Rs. 1.85 billion, offered by OZ Developers, marking the highest price ever paid for a PSL team. The buyer than announced that the latest team’s home city would be Sialkot, bringing the total teams representing Punjab to three.
The franchises were sold under 10-year agreements, with annual fees matching winning bids. The PCB has said the deal would generate an estimated Rs. 36 billion for the board over the contract period.
Following the auction, PCB Chairman Mohsin Naqvi hailed the expansion. “This is not just expansion, it is a vote of confidence in Pakistan cricket,” he said. “The HBL PSL is growing stronger, and today’s outcome will benefit the game for years,” he maintained.
OZ Developers’ Hamza Majid said his company had come to win. “Cricket runs in our blood, and Sialkot now has a team to match its rich cricketing history,” he said. FKS’s Sarwar similarly called the auction win as deeply personal. “This is the fulfilment of a childhood dream. Hyderabad’s inclusion will strengthen the league and also build bridges beyond cricket,” he said.
In a statement, Prime Minister Shehbaz Sharif congratulated the PCB on the successful auction. He appreciated the efforts of the PCB chairman and his team in organizing the tournament. “By the grace of Allah, the glory of sports has been restored in the country. With time, with the grace of Allah, PSL has become the top among the major leagues in the region,” he said. “The auction of two new teams in PSL is an important milestone for the promotion of cricket in the country,” he added.
“Foreign investment in new teams is a clear proof of the popularity and success of Pakistan Super League at the international level,” he stressed. “Cricket fans will enjoy the games of Pakistan Super League this year and new and young talent will get an opportunity,” he concluded.
The 11th edition of the PSL is due to commence on March 26 and conclude on May 3.