ISLAMABAD: The Pakistan Super League (PSL) expanded to eight teams on Thursday after Hyderabad and Sialkot were confirmed as the league’s seventh and eighth franchises following a high-profile auction in Islamabad.
The expansion auction, held at the Jinnah Convention Centre, saw record-breaking bids, underlining growing commercial interest in Pakistan’s flagship T20 league ahead of its 11th season in 2026.
Sialkot emerged as the most expensive franchise in PSL history after OZ Developers secured ownership with a bid of Rs1.85 billion.
The company, owned by businessman Hamza Majeed, won the eighth team after an intense bidding war with software firm i2c.
I2c’s final offer stood at Rs1.82 billion before OZ Developers raised the bid to Rs1.85 billion, setting a new benchmark for the league.
Earlier, FKS Group acquired the seventh franchise for Rs1.75 billion and confirmed Hyderabad as the team’s home city. The base price for the first franchise was set at Rs1.1 billion.
TEAM 7 in #HBLPSL IS HYDERABAD! 👏
Congratulations to FKS for the winning bid of PKR 175 crores 💫
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqIg2#NewEra pic.twitter.com/9EuNfB6kJm— PakistanSuperLeague (@thePSLt20) January 8, 2026
Cities return to Pakistan Super League
Hyderabad and Sialkot will make their first appearances in the PSL since the league’s launch in 2015.
Both cities were shortlisted by the Pakistan Cricket Board (PCB) as part of its expansion plan, which followed the completion of the PSL’s 10th edition.
The PCB had shortlisted six cities for the new teams, including Hyderabad, Faisalabad, Muzaffarabad, Gilgit and Sialkot, allowing successful bidders to choose their preferred home base.
SIALKOT IS THE LATEST ENTRANT 🥳
The #HBLPSL family is now complete! Congratulations OZ Group 👏
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqaqu#NewEra pic.twitter.com/xlqYw8LIJV— PakistanSuperLeague (@thePSLt20) January 8, 2026
Strong investor interest
The expansion marks the second major increase in the PSL’s size. The league began with five teams in 2016 and expanded to six in 2018 with the addition of Multan Sultans.
Ahead of the auction, the PCB conducted roadshows at Lord’s Cricket Ground in London and in New York to attract international investors.
The board said it received bids from 12 parties across five continents, including interest from the United States, Australia, Canada, the United Arab Emirates and Pakistan.
After a detailed evaluation process, 10 bidders were initially shortlisted. Former Multan Sultans owner Ali Tareen later withdrew, reducing the final field to nine bidders.
🚨 SOLD – the magic moment! 🔨
FKS with the successful bid for Team No. 7️⃣ of #HBLPSL 👏
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqIg2 pic.twitter.com/k7TaOZrlfL— PakistanSuperLeague (@thePSLt20) January 8, 2026
Ceremony and awards
The auction ceremony was attended by PCB chairman Mohsin Naqvi, federal ministers, senior cricket officials, former players and representatives of bidding groups.
Former Pakistan captain Wasim Akram served as the auctioneer.
Before the bidding began, the PCB honoured Pakistan Shaheens for winning the Men’s Rising Stars Asia Cup, awarding them Rs90 million.
The national team that won the Hong Kong Super Sixes title received Rs18.5 million.
PSL chief executive Salman Naseer said the league had moved beyond survival and was now focused on expansion and global recognition.
With Hyderabad and Sialkot confirmed, the PSL will feature eight teams for the first time in its history.
The 11th edition of the league is scheduled to run from March 26 to May 3, 2026, marking a new chapter for Pakistan’s premier T20 competition.
