PSL Expansion Concludes: Sialkot and Hyderabad Join League in Record PKR 3.60 Billion Auction
- PSL expands to eight franchises.
- Sialkot team sets historical bidding record.
- Total auction value reaches PKR 3.6 billion.
The Pakistan Super League (PSL) officially concluded the bidding process for its two newest franchises in Islamabad, marking a significant expansion for the globally recognized T20 league. The auction resulted in the addition of teams representing Sialkot and Hyderabad, bringing the total number of participating franchises to eight. The combined sale of the two teams generated a massive total revenue of PKR 3.6 billion, secured under 10-year contracts.
The highlight of the auction was the intense bidding for the eighth franchise, Sialkot. OZD Developers successfully acquired the Sialkot team for a record PKR 1.85 billion (185 Crore), establishing it as the most expensive franchise in the history of the Pakistan Super League. OZD Developers, led by Majeed Chaudhary, an Australian-Pakistani who returned to the country two years ago with a vision for national contribution, outbid competing groups. Chaudhary expressed his commitment to promoting Pakistani talent, stating intentions to utilize national heroes like Shoaib Akhtar and Shahid Afridi as mentors rather than seeking foreign expertise.
Earlier in the process, the seventh franchise, representing Hyderabad, was secured by the FKS Group. Following a competitive bidding process, FKS Group won the rights for the Hyderabad team with a final offer of PKR 1.75 billion (175 Crore). The bidding saw groups like I2C and Prism participating actively before FKS sealed the deal. PCB Chairman Mohsin Raza Naqvi congratulated the winners and presented the new owners with symbolic keys to their respective franchises.
Prior to the main auction, Chairman Naqvi also awarded PKR 90 million to the Rising Star Asia Cup winning team. The acquisition of these two teams signals powerful investor confidence in the PSL brand, which new owner Majeed Chaudhary emphasized as “our identity” and the world’s second-largest T20 league, with aspirations to reach the top spot globally. The new franchises are expected to enhance competition and broaden the geographic representation of the league, further strengthening Pakistan’s position in global cricket.