Historic PSL Auction generates multi-billion rupee revenue for Pakistan cricket
PCB set for Rs 36 billion windfall as new PSL franchises signal global investor confidence
By Nawaz Gohar ; In a landmark development for Pakistan’s sporting economy, Chairman of the Pakistan Cricket Board (PCB), Mohsin Naqvi, has revealed that the successful auction of two new franchises will generate a staggering Rs 36 billion in total revenue for the board.
Speaking at a press conference following the bidding process, Naqvi highlighted that this massive financial influx reflects growing international confidence in Pakistan’s investment climate, drawing a parallel to the recent privatization efforts of the national carrier, PIA.
The Chairman emphasized the global appeal of the Pakistan Super League (PSL), noting that five different companies from the United States participated in the bidding process. He introduced the new owners as prominent figures from the Pakistani diaspora: Fawad Sarwar, a US-based entrepreneur who moved abroad 26 years ago and is now the owner of the Hyderabad franchise, and Hamza Majeed, head of OZ Developers, who managed his successful bid for the Sialkot franchise while based in Australia.
The event also saw high-level diplomatic participation, with the U.S. Chargé d’Affaires to Pakistan, Natalie Baker, in attendance. Ms. Baker expressed her pride in seeing American companies invest in Pakistan, stating that such ventures serve as a symbol of strengthening trade and economic ties between the two nations. She extended her congratulations to both Fawad Sarwar and Hamza Majeed, noting that their involvement bridges the gap between Pakistan’s domestic sports industry and the global business community.
The new franchise owners shared their personal motivations and visions for their respective teams. Fawad Sarwar of FKS described the acquisition as the fulfillment of a lifelong dream, noting that his participation in the PSL would act as a catalyst for further strengthening Pak-US relations.
Meanwhile, Hamza Majeed of OZ Group expressed his passion for the sport, stating that “cricket runs in his blood.” He remarked that while Sialkot already boasts its own international airport, it now finally has its own PSL team, vowing that his side would be a formidable contender to win the championship in Season 11.
According to Chairman Mohsin Naqvi, the Prime Minister of Pakistan and high-ranking officials have expressed their immense satisfaction with the auction’s outcome. The PCB leadership reiterated that this capital would be reinvested back into the sports sector to create better infrastructure and opportunities for the youth, ultimately projecting a positive and vibrant image of Pakistan on the world stage.
