The Pakistan Super League (PSL) It has officially begun its most ambitious chapter yet, transforming from a six-team competition to a robust eight-franchise league for the 2026 season. This expansion marks the first multi-team addition since the league’s inception and marks a strategic shift to capture wider regional markets and increase commercial revenue.
After a high-level auction held on January 8, 2026 at the Jinnah Convention Center in Islamabad, Pakistan Cricket Board (PCB) confirmed Hyderabad and Sialkot T20 will be the new battlegrounds for cricket. The auction is managed by the PCB Chairman Mohsen Naqvi and legendary moderator Wasim Akramsaw record-breaking bids from global conglomerates and real estate giants.
PSL 2026 sees two new teams joining the league; Learn about record prices and new ownerships
Hyderabad rises: FKS group secures seventh franchise
The auction for the seventh PSL franchise witnessed an intense bidding war, with US-based aviation and healthcare conglomerate FKS Group winning with a staggering bid of PKR 1.75 billion (approx. $6.2 million). It is managed by the CEO Fawad Sarwarwho also operates Chicago Kingsmen in Little League Cricketthe group officially named the team Hyderabad and revived the city’s rich cricketing heritage on a global platform.
The bidding process for this slot was particularly aggressive, starting at a base price of PKR 1.1 billion and rising rapidly as corporate heavyweights like i2c Group forced the valuation to nearly triple the annual fees paid by the original franchises. Potters of Lahore. This monumental investment reflects FKS Group’s commitment to build world-class facilities in Sindh and nurture local talent through its existing international sports networks.
During the post-auction press conference, Sarwar described the acquisition as a “childhood dream” realized, stressing that the Hyderabad franchise would act as a beacon for street cricketers aspiring to reach the professional levels. The PCB hailed this high-value sale as evidence of PSL’s growing commercial appeal, with Hyderabad’s annual fee now representing a huge leap in operational commitment. As the seventh team, Hyderabad is expected to attract a large following from the interior of Sindh region, which will provide a new competition. Karachi Kings and adding a fresh layer of regional pride to the tournament.
“I still can’t believe (we own a PSL team). It’s a childhood dream. We all started playing street cricket and backyard cricket, practicing in front of the mirror, trying to be the next big thing. I’m very proud and would like to thank everyone who made us where we are today.” Fawad Sarwar said at the press conference.
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Sialkot stunner: OZ developers claim record bid
After the momentum of the first sale, when the auction for the eighth franchise reached a higher level, OZ Developers, outstanding Australia-Pakistan real estate consortium secured the Sialkot franchise for a record-breaking PKR 1.85 billion ($6.55 million). This offer has officially become the most expensive franchise in the history of Sialkot Pakistan Super Leaguesurpassing all previous ownership records in terms of annual franchise fees.
CEO Hamza Majida Pakistani expatriate who has successfully led large-scale infrastructure projects abroad, said the decision to represent Sialkot was a tribute to the city’s global reputation as a sporting goods hub. Famous for its own private airport and airline, Sialkot finally has a premier cricket team to match its industry prestige, filling the long-standing gap in the PSL’s regional squad.
The bid for Sialkot was a clinical affair, starting from a revised base price of PKR 1.7 billion and seeing OZ Developers outpace finalists with a number of stable, high-stakes increments such as i2c. Sialkot’s entry is seen by the PCB as a “guardian” move for Pakistan cricket, ensuring that one of the country’s most prolific talent-producing regions is now directly integrated into the country’s main domestic competition.
“God gave us a chance to be successful. As an expatriate Pakistani, it is everyone’s dream to do something for Pakistan. Cricket is in our blood. I am looking forward to this PSL. Get ready, Sialkot. Sialkot has its own airport, its own airline. Now it has a cricket team. Sialkot sports industry will promote this team and we will win this title in PSL.” Hamza Majid, CEO of OZ Group, said.
Road to PSL 11: Expansion dynamics and status of Multan
Scheduled to be held from March 26 to May 3, 2026 with the addition of Hyderabad and Sialkot, the PSL 11 season will be the longest and most comprehensive edition of the tournament to date. The move to an eight-team format would likely require an updated schedule that would include more doubleheaders and a longer playoff structure to increase the number of matches.
While expansion headlines dominated, the status of the Sultans of Multan remained a major topic of discussion at the Islamabad auction; The PCB has confirmed that it will directly operate the Sultans for the 2026 season following the expiry of the previous contract and a falling out with the former owner. Ali Qatar. Tareen, who backed out of an expansion bid at the last minute, has expressed his desire to re-acquire a Multan-based side when they go on special sale in April 2026, citing his heart remaining. South Punjab.
This interim management by the PCB ensures that all eight teams are active for the upcoming season, while maintaining the competitive balance of the league and finalizing the board’s long-term ownership for the Multan region. Financially, the acquisition of a total of US$12.75 million (INR 114.7 crore) for the two new teams has drawn comparisons with global leagues, but in a domestic context, it represents a huge increase in annual fee income for the PCB.
