The Pakistan Super League (PSL 2026) is destined for a massive expansion, as Hyderabad and Sialkot will become official additions to the competition as the seventh and eighth teams of PSL from 2026. This comes after a very competitive auction featuring a historic payment of franchise charges.
The Franchise Auction-Break
The auction raised quite a lot of revenue as it was won by not one but two bidders: FKS, which is a US company specialising in aviation and healthcare businesses, and OZ Developers, a global real estate group. The Hyderabad franchise was acquired by FKS for PKR 1.75 billion, which is approximately USD 6.2 million.
The Sialkot franchise went to OZ Developers for PKR 1.85 billion (USD 6.55 million). Both are the highest franchise fees ever in PSL history and have set a record ahead of PSL 2026.
Aggressive Bidding for Hyderabad Franchise
The starting bid for the inaugural new franchise was set at PKR 1.1 billion, the yearly stump up to the PCB for a 10-year franchise. The bids went up significantly once the bid process opened up to FKS, led by CEO Fawad Sarwar.
A fierce bidding war ensued between FKS and the fintech firm i2c, with FKS placing aggressive bids of PKR 1.54 billion, 1.68 billion, and finally 1.75 billion to finalise the deal with the Hyderabad-based franchise.
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Though allegedly lower than that of Multan Sultans’ 2018 purchase, Hyderabad’s price is actually the highest annual fee ever paid for a PSL franchise, considering prevailing exchange rates.
Hyderabad Becomes the Most Expensive Franchise
The Hyderabad franchise is now in a league of its own in terms of finances. The annual charge is:
- Close to three times higher than that of Lahore Qalandars at PKR 670 million
- Equivalent to the aggregate franchises in Lahore, Karachi, and Peshawar
In a reaction to the event, CEO of FKS, Fawad Sarwar, described the procurement as a “lifelong dream,” which symbolically represents the emotional as well as cultural significance of having a franchise of PSL before PSL 2026.
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Sialkot Secured At Even Higher Price
The success at Hyderabad convinced the PCB to set the base price of the following team at PKR 1.7 billion, a huge increase. Although fewer people took part in the bidding, OZ Developers, led by CEO Hamza Majeed, eventually bid PKR 1.85 billion to win the bid, thus making Sialkot the costliest franchise in the history of PSL, leaving i2c behind.
All existing franchises of the PSL are valued at somewhere in between PKR 370 million and PKR 670 million, underlining how franchise valuations have shot up ahead of PSL 2026.
A vision for Sialkot cricket’s future
Hamza Majeed, elaborating, underlined the emotional connect overseas Pakistanis have to helping build the future for the country’s cricket. He spoke about the name Sialkot having a sporting legacy and expressed his confidence that the new PSL team would lift Sialkot’s graph across the world, hoping to win the PSL XI.
PCB Reaction and Future Franchise Plans
PCB chairman Mohsin Naqvi has lauded both groups of owners, saying they are not just administrators of franchises but of Pakistan cricket as a whole.
PSL 2026 Tournament Dates
The 11th season of the PSL tournament is all set to take place from the 26th of March to the 3rd of May. The Sindh cities of Sialkot and Hyderabad are all geared up to welcome the dawn of the era of PSL 2026.
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