Hyderabad and Sialkot are the two new teams added to the HBL PSL franchises. Photo: X/@thePSLt20
ISLAMABAD:
History was made on Thursday as the HBL Pakistan Super League (PSL) entered a crucial new phase, with two new franchises sold for a combined Rs3.6 billion in a record auction, confirming the league’s expansion to eight teams from its 11th edition.
The high-profile auction, organized by the Pakistan Cricket Board (PSC) at the Jinnah Convention Centre, attracted intense interest from leading local and international groups, underscoring renewed investor confidence in Pakistan’s flagship T20 tournament.
Bidding for the seventh franchise opened at a base price of 1.1 billion. Rs, and quickly escalated amid fierce competition involving several heavyweights before Southeast Asia-based FKS Group secured the team with a winning bid of Rs 1.75 billion. Rs.
Moments later, FKS CEO Fawad Sarwar announced ‘Hyderabad’ as the home city, bringing a major cricket hub in Sindh into the HBL PSL fold and receiving applause from officials, bidders and invited guests at the venue.
The auction then moved to the eighth franchise, offered at a base price of Rs1.7 billion, where a tense three-way contest unfolded between US-based Aim Next Inc., i2c and OZ Developers, pushing bids steadily higher in prescribed increments.
After several lead changes and strategic pauses, OZ Developers sealed the deal with an offer of Rs 1.85 billion – the highest price ever paid for an HBL PSL team – and later confirmed ‘Sialkot’ as the hometown of the franchise.
Under the auction framework, franchises were sold on 10-year deals with annual fees matching their winning bids, while the PCB said the process would generate an estimated Rs36 billion for the board over the contract period.
Earlier, the ceremony featured prize giving for national teams, with Rs90 million awarded to the Emerging Asia Cup-winning Pakistan Shaheens and Rs18.5 million to the Hong Kong Sixes champions, adding celebratory color to the evening.
At the end, PCB chairman Mohsin Naqvi called the auction a watershed moment and said, “This is not just expansion, it is a vote of confidence in Pakistan cricket. The HBL PSL is growing stronger and today’s result will benefit the game for years.”
US Charge d’Affaires Natalie Baker welcomed the strong American participation, noting: “American companies invest here and events like this help strengthen trade and sporting ties between our two countries.”
OZ Developers’ Hamza Majid said the decision to push past the budget was deliberate, adding: “We came here to win. Cricket runs in our blood and Sialkot now has a team to match its rich cricketing history.”
Calling the moment deeply personal, FKS owner Fawad Sarwar said, “This is the fulfillment of a childhood dream. Hyderabad’s inclusion will strengthen the league and also build bridges beyond cricket.”
Prime Minister Shehbaz Sharif congratulated PCB for the successful auction of the new teams for HBL PSL. He appreciated the efforts of PCB Chairman Mohsin Raza Naqvi and his team involved in organizing the tournament.
“By the grace of Allah, the glory of the sport has been restored in the country. Over time, the PSL, by the grace of Allah, has become the pinnacle among the major leagues in the region,” he said in a statement. “The auction of two new teams in the PSL is an important milestone for the promotion of cricket in the country.”
Shehbaz said that the inclusion of two new teams has breathed new life into the HBL PSL. “Foreign investment in new teams is a clear proof of the popularity and success of Pakistan Super League at international level. Cricket fans will enjoy the matches of Pakistan Super League this year and new and young talents will get an opportunity,” he added.
(WITH ACCESS FROM APP)
