ISLAMABAD: The auction process for two new teams in the Pakistan Super League (PSL) has been successfully concluded, with the seventh franchise sold for Rs1.75 billion and the eighth franchise fetching Rs1.85 billion, marking a major expansion of the league.
The bidding ceremony was held at the Jinnah Convention Centre, Islamabad, and was attended by Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi, federal ministers, former cricketers, and senior officials.
During the opening session, nine bidders and six potential host cities were introduced. PCB Chairman Mohsin Naqvi formally inaugurated the auction by ringing the bell, while legendary former fast bowler Wasim Akram served as the auctioneer. The base price for each franchise was set at Rs1.10 billion, with a minimum incremental bid of Rs10 million.
Following competitive bidding, FKS Group secured the seventh PSL team for Rs1.75 billion and selected Hyderabad as its home city. In the second and final phase of the auction, OZ Developers acquired the eighth franchise for Rs1.85 billion, choosing Sialkot as the team’s home city.
Earlier in the ceremony, prize money was awarded to Pakistan teams for their recent international successes. The Hong Kong Sixes-winning Pakistan team received Rs18.5 million, while the Rising Stars Asia Cup champions were awarded Rs90 million by PCB Chairman Mohsin Naqvi.
Addressing the gathering, PSL Chief Executive Officer Salman Naseer said the league’s decade-long journey had been marked by both challenges and achievements. “We are not fighting for survival; we are growing,” he said, crediting teams, players, sponsors, franchises, and fans for elevating PSL among the world’s leading T20 leagues.
It is pertinent to note that PSL Season 11 will be held from March 26 to May 3, 2026, with the inclusion of the two new teams increasing the total number of franchises from six to eight.
About the New Franchise Owners
FKS Group, a prominent Southeast Asian conglomerate with major interests in food and agriculture, logistics, and property development, emerged successful after an intense bidding process. With a strong operational presence in Indonesia, the group has recently expanded into sports investments, marking its first official entry into international cricket through PSL.
OZ Group / OZ Developers, chaired by Hamza Majid, is actively engaged in real estate and development, with growing investments in sports and entertainment assets.
