(Web Desk) – Pakistan Super League expanded to eight teams on Thursday as two new franchises were successfully auctioned, with OZ Developers and FKS Group securing ownership of Sialkot and Hyderabad respectively at record prices.
OZ Developers emerged victorious in a fierce bidding contest for the Sialkot franchise, submitting a winning bid of Rs1.85 billion, the highest amount ever paid for a PSL team. The company went head-to-head with software firm i2c in the second round of the auction held at Islamabad’s Jinnah Convention Centre, surpassing i2c’s final offer of Rs1.82 billion.
Earlier, FKS Group won the Hyderabad franchise with a bid of Rs1.75 billion after competing against i2c, which placed a final bid of Rs1.7 billion. The base price for the seventh PSL team was set at Rs1.1 billion, while the eighth team carried a base price of Rs1.7 billion.
Hyderabad and Sialkot will make their debut appearances in the PSL, which was launched in 2015. The upcoming season of the league is scheduled to run from March 26 to May 3.
Several cities were considered for franchise allocation, including Faisalabad, Gilgit, Muzaffarabad, Rawalpindi, Hyderabad, and Sialkot. With the addition of the two new teams, the PSL lineup now includes Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings, Multan Sultans, Hyderabad, and Sialkot.
A wide range of corporate entities participated in the bidding process, including FKS, OZ Developers, Aim Next Inc, Deharki Sugar Mills, Inverex Solar, i2c, Jazz, Prism Developers, VGO TEL, and Walee Pakistan.
The auction was hosted by former Pakistan captain and renowned commentator Wasim Akram, alongside PSL Chief Executive Officer Salman Naseer. Addressing the gathering, Naseer said the league’s tenth year marked a milestone moment for Pakistan cricket, while Akram encouraged bidders by highlighting the unique opportunities that come with franchise ownership, including brand development and fan engagement.
Ahead of the auction, Pakistan Cricket Board Chairman Mohsin Naqvi awarded Rs90 million to the Rising Star Asia Cup-winning team, while the champions of the Hong Kong Sixes received a cash prize of Rs18.5 million.
The bidding deadline had been extended multiple times amid strong interest from international investors, following promotional roadshows in London and New York.
Meanwhile, former Multan Sultans owner Ali Tareen announced earlier in the day that he would not participate in this year’s auction. In a social media statement, he said his association with Multan Sultans was rooted in representing south Punjab and that he would consider returning to the league only when the Multan franchise is up for sale again.
