By Alam Zeb Safi
LAHORE: The Pakistan Super League (PSL) took a major step in its evolution on Thursday, announcing the sale of two new franchise teams in a historic auction that will expand the T20 league from six to eight teams for the 2026 season.
At a high-profile auction held at the Jinnah Convention Centre in Islamabad, a total of 10 qualified bidders competed for the seventh and eighth PSL franchises in front of Pakistan Cricket Board (PCB) officials, corporate executives and government representatives.
The first franchise was secured by FKS Group, a US-based aviation and healthcare conglomerate, which emerged victorious in a fiercely contested bidding process. FKS agreed to pay Rs 1.75 billion (approximately USD 6.2 million) for the rights to the new team and selected Hyderabad as its home city, marking the city’s introduction to top-tier domestic cricket.
Moments later, OZ Developers, a major real estate consortium, clinched the second franchise with a Rs 1.85 billion (roughly USD 6.55 million) bid. The group chose Sialkot, a city with a rich cricketing tradition, as the base for its team.
Combined, the sales of the Hyderabad and Sialkot franchises brought in Rs 3.6 billion for the PCB, a record combined haul that surpasses previous franchise valuations in the league’s history.
The expansion to eight teams represents the most significant change to the PSL since its inception in 2016 and reflects growing commercial interest in Pakistan’s premier T20 competition. Season 11 of the PSL is scheduled to run from March 26 to May 3, 2026, and will be the first edition featuring the enlarged line-up. The
PCB Chairman Mohsin Naqvi described the auction results as a “milestone moment” for the league and said the competitive bidding demonstrated strong investor confidence in the PSL brand and its long-term growth prospects. The event was also attended by federal ministers, former national cricketers and senior PCB officials.
The high bids reflect not only enthusiasm for the PSL’s domestic appeal but also increasing global interest in league cricket as a commercial vehicle. Both franchise owners have indicated plans to invest in local talent development and fan engagement initiatives ahead of the next season.
The league’s expansion follows the renewal of rights for five of the original six franchises under a revised valuation system, and marks the PSL’s most ambitious growth phase to date.
