Today, January 8, 2026, marked a transformative milestone for the Pakistan Super League (PSL) as the league officially expanded from six to eight teams. The high-stakes auction held at the Jinnah Convention Centre in Islamabad saw record-breaking bids, signaling immense investor confidence in the league’s “New Era.”
A Record-Breaking Day in Islamabad
The auction, moderated by legendary former captain Wasim Akram and attended by PCB Chairman Mohsin Naqvi, concluded with two new franchises joining the fold for an astounding combined total of PKR 3.6 billion.
1. The Seventh Franchise: Hyderabad
- Winner: FKS Group (US-based aviation and healthcare conglomerate)
- Winning Bid: PKR 1.75 billion (approx. $6.2 million)
- Details: Led by CEO Fawad Sarwar, the FKS Group—which also owns the Chicago Kingsmen in the US—outbid fintech firm i2c in a series of aggressive jumps to secure the Hyderabad franchise. This brings top-tier cricket back to the historic city of Sindh.
2. The Eighth Franchise: Sialkot
- Winner: OZ Developers (Real Estate Consortium)
- Winning Bid: PKR 1.85 billion (approx. $6.55 million)
- Details: In the most expensive franchise sale in PSL history, OZ Developers, led by Hamza Majeed, clinched the Sialkot team after a fierce bidding war with i2c. The final bid surpassed the seventh team’s price and established Sialkot as the newest powerhouse on the PSL map.
Key Highlights of the Auction
- Massive Valuation: The annual fees for these new teams are significantly higher than the original six franchises. For context, the Hyderabad fee is nearly three times that of the Lahore Qalandars (PKR 670 million).
- The “Wasim Akram” Moment: In a lighthearted moment, Wasim Akram joked with telecom giant Jazz when they failed to place a bid, asking, “Balance khatam ho gaya?” (Have you run out of phone credit?).
- The Lineup: The new teams will join the existing “Big Six”: Islamabad United, Karachi Kings, Lahore Qalandars, Multan Sultans, Peshawar Zalmi, and Quetta Gladiators.
- Celebrations: Before the bidding, the PCB awarded PKR 90 million to the Rising Star Asia Cup winners and PKR 18.5 million to the Hong Kong Sixes champions. The night concluded with a performance by renowned singer Rahat Fateh Ali Khan.
What’s Next for PSL 11?
The new additions will play an essential role in the growth of the PSL, further elevating the global profile of Pakistani cricket. The 11th edition of the league, set to run from March 26 to May 3, 2026, promises more action, more excitement, and more international stars than ever before!
Note: While the home cities are confirmed as Hyderabad and Sialkot, the official team names and logos are expected to be unveiled in a formal ceremony soon.
The #NewEra begins with a bang! 🔥
— CricNetworks (@cricnetworks) January 8, 2026
Hyderabad and Sialkot join the #HBLPSL family! 👏#PSLAuction #Cricket #HBLPSL2026 #NewTeams #CricketFans pic.twitter.com/8LeXdfssiR
