Pakistan Super League (PSL) has officially begun its most ambitious chapter yet, evolving 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, signaling a strategic shift to capture wider regional markets and boost commercial revenues.
Following a high-profile auction held at the Jinnah Convention Center in Islamabad on January 8, 2026, Pakistan Cricket Board (PCB) confirmed it Hyderabad And Sialkot T20 will be the new battlefield for cricket. PCB chairman will oversee the auction Mohsin Naqvi and great moderator wasim akramRecord-breaking bids were seen from global conglomerates and real estate giants.
PSL 2026 sees two new teams join the league; Learn about record prices and new ownership
Hyderabad Rise: FKS Group bags seventh franchise
The auction for the seventh PSL franchise saw an intense bidding war, with US-based aviation and healthcare conglomerate, FKS Group, ultimately emerging victorious with a staggering bid of PKR 1.75 billion (about $6.2 million). led by ceo Fawad Sarwarwho also operates it chicago kingsmen In minor league cricketThe group officially named the team Hyderabad, reviving the city’s rich cricket heritage on the global stage.
The bidding process for this slot was particularly aggressive, starting at a base price of PKR 1.1 billion and increasing rapidly as corporate giants such as I2C Group raised the valuation to almost three times the annual fees paid by the original franchises. Lahore QalandarsThis huge investment reflects the FKS Group’s commitment to building world-class facilities in Sindh and nurturing local talent through its existing international sports network,
During the post-auction press conference, Sarwar described the acquisition as the fulfillment of a ‘childhood dream’, and stressed that the Hyderabad franchise would serve as a mentor for street cricketers aspiring to reach the professional ranks. The PCB has hailed this high-value sale as evidence of the growing commercial appeal of the PSL, with Hyderabad’s annual fee now representing a huge leap in operational commitment. As the seventh team, Hyderabad is expected to attract a massive following from the interior Sindh region, which will provide a new rivalry for it. karachi kings And adding a new layer of regional pride to the tournament.
“I still can’t believe it [we’re owners of a PSL team]This is a childhood dream, We all started playing street cricket and backyard cricket, practicing in front of the mirror, trying to become the next big thing, I’m very proud, and I want to thank everyone who has helped get us to where we are today,” Fawad Sarwar Said at a press conference.
Also read: WPL 2026 Opening Ceremony: Date, Time, Artists and Live Streaming Details
Sialkot shocker: OZ Developers claims record bid
Following the momentum of the first sale, the auction for the eighth franchise reached even greater heights when OZ Developers, a major Australian-Pakistan Real estate consortium acquired the Sialkot franchise for a record-breaking PKR 1.85 billion ($6.55 million). This bid officially made Sialkot the most expensive franchise in history pakistan super leagueSurpassed all previous ownership records in terms of annual franchise fees.
ceo Hamza MajeedAn expatriate Pakistani 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. Sialkot, which has its own private airport and airline, finally has a major cricket team to match its industrial reputation, filling a long-standing void in the PSL’s regional lineup.
The bid for Sialkot was a clinical affair, starting at a revised base price of PKR 1.7 billion and a series of steady, high-stakes increases saw OZ Developers outbid finalists like I2C. Sialkot’s entry is seen by the PCB as a “parental” step for Pakistan cricket, ensuring that one of the country’s most fertile talent-producing regions is now directly integrated into the country’s premier domestic competition.
“God gave us a chance to succeed. As an overseas 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 had its own airport, its own airline. Now it has its own cricket team. Sialkot sports industry will be elevated by our PSL team, and we would love to win this title in PSL XI.” said Hamza Majeed, CEO of OZ Group.
PSL 11 route: Expansion dynamics and Multan status
With the inclusion of Hyderabad and Sialkot, the PSL 11 season, running from March 26 to May 3, 2026, will be the longest and most comprehensive edition of the tournament to date. The move to an eight-team format required a modified schedule that would include more double-headers and a longer playoff structure to accommodate the increased number of matches.
While the expansion made headlines, the status of Multan Sultans remained the main point of discussion during the Islamabad auction; The PCB confirmed that it will directly operate the Sultans for the 2026 season following the expiry of the previous agreement and a rift with the former owner. Ali TareenTareen, who pulled out of the expansion bid at the last minute, cited his heart as expressing his desire to reacquire the Multan-based side in April 2026, when it will go up for a dedicated sale, South Punjab,
This temporary management of the PCB ensures that all eight teams will remain active for the upcoming season, thereby maintaining the league’s competitive balance while the Board finalizes the long-term ownership for the Multan region. Financially, the total investment of $12.75 million (INR 114.7 crore) for the two new teams has prompted comparisons with global leagues, but in domestic terms, it represents a huge increase in annual fee revenue for the PCB.