PSL Expansion: Sialkot and Hyderabad join as Record-Breaking Franchises in Historic Auction
PSL Expansion: Sialkot and Hyderabad join as Record-Breaking Franchises in Historic Auction
By Nawaz Gohar ; The Pakistan Super League (PSL) has officially expanded its footprint with the inclusion of two new franchises, Hyderabad and Sialkot, following a high-stakes auction that saw bidding wars shatter previous financial records. The addition of these teams brings the total number of competing franchises to eight for the upcoming season.
In a surprising turn of events, international and local conglomerates showed immense interest, driving the final prices far beyond the initial base prices.
Sialkot: Acquired by OZ Developers (Haqiqi Consortium) for a staggering Rs 1.85 billion ($6.55 million) per year. This bid stands as the highest annual franchise fee in the history of the PSL.
Hyderabad: Secured by FKS, a US-based aviation and healthcare firm, for Rs 1.75 billion ($6.2 million) per year.
While the base price for the first team was set at Rs 1.1 billion, the competition intensified quickly. Fawad Sarwar, CEO of FKS, initiated the bidding at Rs 1.4 billion, eventually outlasting financial tech firm i2c to secure the Hyderabad franchise.
The financial landscape of the league has shifted dramatically with this auction. To put these figures into perspective, the annual fees for the new teams dwarf those of the original franchises:
FranchiseAnnual Fee (Approx.)
Sialkot Rs 1.85 Billion Highest in PSL History
Hyderabad Rs 1.75 Billion 3x the fee of Lahore Qalandars
Lahore Qalandars Rs 670 Million Previous highest among active teams
Other Franchises Rs 370M Rs 670M Range for Karachi, Peshawar, etc.
The Hyderabad franchise fee alone is roughly equivalent to the combined annual fees of Lahore, Karachi, and Peshawar, highlighting the exponential growth in the league’s commercial value.
The auction for the second team (Sialkot) started with a higher base price of Rs 1.7 billion. Although industry giants like Jazz and Inverex Group were initially expected to compete, they did not participate in the final bidding. This left the floor to OZ Group, led by CEO Hamza Majeed, who successfully outbid i2c with a final offer of Rs 1.85 billion.
PCB Chairman Mohsin Naqvi congratulated the new owners, emphasizing that they are not merely “owners” but “custodians of Pakistan cricket.” Naqvi also revealed that the expansion will continue, with at least one more team expected to be auctioned next year. Currently, the PCB is managing the Multan Sultans franchise and intends to put it up for sale in the future. Notably, former owner Ali Tareen was an approved bidder for this session but opted to wait until the Multan franchise specifically becomes available for repurchase.
The 11th edition of the PSL, featuring these two new powerhouses, is scheduled to take place from March 26 to May 3. Fans across the country are eagerly anticipating the regional rivalry that Sialkot and Hyderabad will bring to the tournament’s atmosphere.
