Islamabad sealed two major additions to the Pakistan Super League on 8 January 2026, with Sialkot and Hyderabad joining as new teams after a heated auction that drew global investor interest.
The Pakistan Cricket Board auctioned two PSL new franchises in Islamabad on Thursday, drawing bids totalling Rs3.6 billion. OZ Developers secured the Sialkot PSL team for a historic Rs1.85 billion, while FKS Group claimed the Hyderabad PSL franchise for Rs1.75 billion. The event at Jinnah Convention Centre marked the league’s expansion to eight teams ahead of the 2026 season.
This development strengthens cricket infrastructure in Pakistan by incorporating cities from Punjab and Sindh provinces. It boosts regional representation and investor confidence in South Asian sports markets, where PSL viewership has grown steadily since 2016.
PSL Franchise Auction Highlights
The PSL franchise auction began with a base price of PKR 1.1 billion (Rs1.1bn) for the seventh team and Rs1.7bn for the eighth. Ten qualified bidders participated after technical evaluations by the Pakistan Cricket Board. The process followed extensions of the bidding deadline from 15 December 2025 to 24 December 2025, spurred by interest from Europe, the United States and the Middle East after promotional events in London and New York.
Former Pakistan captain Wasim Akram hosted the auction alongside PSL CEO Salman Naseer. Naseer opened proceedings by stating: “Ten years of PSL have led us to this moment.” Akram encouraged bidders, noting that ownership involves designing logos, kits and engaging with players.
The first round focused on the seventh franchise. FKS Group and software firm i2c competed intensely. I2c’s final offer stood at Rs1.7bn before FKS clinched victory at Rs1.75bn, assigning the team to Hyderabad.
The second round saw OZ Developers battle i2c for the eighth spot. I2c bid Rs1.82bn, but OZ Developers raised to Rs1.85bn, the highest in PSL history, securing Sialkot.
Other bidders included Aim Next Inc, Deharki Sugar Mills, Inverex Solar, Jazz, Prism Developers, VGO TEL and Walee Pakistan. The Pakistan Cricket Board had shortlisted six cities: Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi and Sialkot. Successful parties selected from this pool.
Sialkot PSL Team: A New Powerhouse
The Sialkot PSL team represents a milestone for Punjab’s industrial hub. OZ Developers, a real estate firm, outbid competitors to invest Rs1.85bn. This amount surpasses previous PSL records, reflecting rising valuations in South Asian cricket leagues.
Sialkot’s inclusion taps into the city’s cricket heritage, known for producing equipment and talent. The franchise will debut in the 2026 PSL, scheduled from 26 March to 3 May. Owners can now build rosters through drafts, aligning with existing teams like Lahore Qalandars and Islamabad United.
This PSL new franchise expands opportunities for local players and fans. Sialkot’s economy, driven by exports, could benefit from increased tourism and sponsorships tied to matches.
Hyderabad PSL Franchise: Boost for Sindh
FKS Group, a US-based entity, acquired the Hyderabad PSL franchise for Rs1.75bn. The win followed a competitive round against i2c, highlighting demand for Sindh representation beyond Karachi Kings.
Hyderabad, a historic city, joins PSL for the first time since the league’s 2016 launch. The franchise auction process ensured transparency, with bids verified by Pakistan Cricket Board officials.
The addition addresses regional balance in Pakistan’s premier T20 competition. It could stimulate cricket development in southern areas, where infrastructure lags behind Punjab. FKS Group’s involvement brings international expertise, potentially enhancing team management and global partnerships.
Background
The Pakistan Super League started in 2016 with five teams, expanding to six in 2018 with Multan Sultans. Current franchises are Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings and Multan Sultans.
Expansion plans emerged in 2025 amid growing revenues. The Pakistan Cricket Board commissioned valuation reports for potential cities, finalising options like Hyderabad and Sialkot. The tender process invited global bids, resulting in 12 submissions before shortlisting 10.
Former Multan Sultans owner Ali Tareen withdrew from the PSL franchise auction, citing focus on south Punjab. In a social media post, he said: “Our time with Multan Sultans was never just about owning a cricket team. It was about south Punjab.”
Pre-auction, Pakistan Cricket Board Chairman Mohsin Naqvi awarded prizes: Rs90 million to the Rising Star Asia Cup winners and Rs18.5 million to the Hong Kong Sixes champions.
What’s Next in PSL New Franchises
The new owners will prepare for the player draft, expected later in 2026. Matches involving the Sialkot PSL team and Hyderabad PSL franchise will integrate into the schedule, increasing fixtures from 34 to potentially 60.
This PSL new franchises expansion aims to elevate the league’s profile, attracting more international stars and broadcasters. Stakeholders anticipate higher revenues, with central pool distributions rising for all teams.
The move positions PSL as a key player in South Asian cricket, rivalling other T20 leagues. Future seasons may explore further growth, depending on infrastructure and sponsorships.
PSL new franchises like these signal sustained investment in Pakistan’s sports sector.
Published in SouthAsianDesk, January 9th, 2026
Follow SouthAsianDesk on X, Instagram and Facebook for insights on business and current affairs from across South Asia.
