ISLAMABAD: One of two new Pakistan Super League (PSL) franchises has been sold to Kingsmen in a historic auction at the Jinnah Convention Centre in Islamabad on Thursday.
Excitement is building in Islamabad as PSL is auctioning two new franchises, marking a major expansion ahead of its 11th and landmark season.
All 10 qualified bidders competed fiercely, placing massive bids for the new team. Kingsmen emerged as the winner by offering Rs1.75 billion, successfully leading the auction and taking the helm of the new franchise.
This marks the second major expansion in the league’s history.
Previously, Multan Sultans became the first team to be added during the third season of the PSL, increasing the number of teams from five to six.
With this year’s historic 11th edition, two additional teams have been introduced, taking the total from six to eight franchises.
The teams’ auction is taking place in Islamabad, with the Pakistan Cricket Board overseeing the process amid strong domestic and international interest.
The auction ceremony is being live-streamed across multiple platforms, including the HBL PSL and PCB official YouTube channels, among others.
A total of 10 technically qualified bidders are vying for ownership of the two new teams, as the PSL expands from six to eight sides for the first time.
The new franchises will debut in the 2026 season, scheduled to run from 26 March to 3 May, a window that positions the tournament firmly within the global T20 calendar.
The bidding pool reflects a diverse range of industries, including agrobusiness, telecommunications, real estate, software and technology firms from Pakistan and abroad.
According to the PCB, this variety underlines the league’s growing commercial appeal and its ability to attract investment beyond traditional sports ownership models.
The cities shortlisted for potential franchise allocation are Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi and Sialkot. Two of these will now be selected to join the existing PSL line-up, becoming new centres of top-tier T20 cricket alongside established franchises.
These new teams will enter a competition already rich in history. Lahore Qalandars and Islamabad United are the most successful sides, with three titles each, while Peshawar Zalmi, Quetta Gladiators, Karachi Kings and Multan Sultans have all lifted the trophy since the league’s launch in 2016.
Interest in the auction was fuelled by PSL roadshows held in London and New York on 7 and 13 December 2025, which the PCB described as highly successful. Following those events, 12 parties submitted bids, with 10 advancing after a technical evaluation.
The confirmed bidders are Aim Next Inc, Deharki Sugar Mills, FKS, Inverex, i2c, Jazz, OZ Developers, Prism Developers, VGO TEL and Walee Technologies. Each group is represented by senior executives or founders, highlighting the scale of corporate backing behind the auction.
