ISLAMABAD: The Pakistan Super League (PSL) officially expanded to eight teams on Wednesday after a high-profile franchise auction concluded at the Jinnah Convention Centre, marking a historic milestone ahead of PSL season 11. Business groups FKS and OZ Developers emerged as the winning bidders, securing franchises for Hyderabad and Sialkot respectively after intense competition.
The auction, conducted under the supervision of the Pakistan Cricket Board (PCB), attracted ten qualified bidders and witnessed aggressive bidding that pushed franchise values to record highs. The expansion reflects the growing commercial strength and popularity of the PSL, now entering its 11th season.
Hyderabad Becomes Seventh PSL Team
@ptvsportshd_official Hyderabad is a New PSL Team LIVE – HBL PSL Teams Auction 2026 at Jinnah Convention Centre Ep 1 – 8 Jan 2026 #hbpsl #psl #psl11 #psl2026 #pakistan ♬ original sound – PTV Sports HD
The bidding for the seventh team began with a base price of PKR 1.1 billion and quickly escalated as multiple companies entered the race. After a series of competitive bids involving Inverex, Walee Technologies, Prism Developers, OZ Developers, i2c, and FKS, the contest narrowed down to FKS and i2c.
FKS owner Fawad Sarwar ultimately secured the franchise with a final bid of PKR 1.75 billion, one of the highest franchise fees in PSL history. Shortly after the auction concluded, Sarwar confirmed that his team would represent Hyderabad, bringing top-tier cricket back to the city.
Read More: Pakistan T20I Squad’s Pakistan in Sri Lanka 2026
Sialkot Secured at Record Price
@ptvsportshd_official Sialkot New PSL Team LIVE – HBL PSL Teams Auction 2026 at Jinnah Convention Centre Round 2 – 8 Jan 2026 #hbpsl #psl #psl11 #psl2026 #pakistan
♬ original sound – PTV Sports HD
The auction for the eighth team proved even more intense. Starting at a base price of PKR 1.7 billion, the bidding saw sustained competition between Aim Next Inc., i2c, and OZ Developers. Each round pushed the valuation higher, reflecting strong investor confidence in the league’s future.
OZ Developers, led by Hamza Majeed, clinched the franchise with a final bid of PKR 1.85 billion, setting a new benchmark for PSL expansion teams. Majeed confirmed Sialkot as the home city, a decision widely welcomed due to the city’s deep cricketing roots and international reputation for sports manufacturing.
Auction Rules and Process
All bids were quoted in Pakistani Rupees, with a minimum increment of PKR 10 million enforced by PCB regulations. Bidders were allowed one strategic timeout per round, enabling consultations without communication with rival bidders. Each bidding round closed after a final call from the auctioneer, following standard PSL auction protocols.
Qualified Bidders
The PCB had earlier approved ten bidders for the auction, including Aim Next Inc., Deharki Sugar Mills, FKS, Inverex, i2c, Jazz, OZ Developers, Prism Developers, VGO TEL, and Walee Technologies. Winning franchises were granted the right to select their home cities from a PCB-approved list.
PSL Expansion Gains Momentum
With Hyderabad and Sialkot officially joining the league, PSL season 11 will feature eight teams for the first time. The expansion is expected to boost regional representation, commercial revenue, and fan engagement across Pakistan, reinforcing the PSL’s status as one of the world’s leading T20 leagues.
Read More: PCB Shortlists First Three Bidders for PSL 11 Teams
