PAKISTAN SUPER LEAGUE (PSL) has confirmed the addition of two new franchises, with Hyderabad and Sialkot set to join the competition from this season, expanding the tournament from six to eight teams.
The PSL 2026 franchise auction was held in Islamabad. FKS, a US-based aviation and healthcare conglomerate that also owns the Chicago Kingsmen, and real estate consortium OZ Developers emerged as the successful bidders.
Both franchises were sold for record-breaking fees in PSL history, with FKS acquiring Hyderabad for PKR 1.75 billion, while OZ Developers secured Sialkot with a bid of PKR 1.85 billion.
The league is set to undergo further change next year, with at least one more franchise to be sold. The Pakistan Cricket Board (PCB) will operate Multan Sultans for the upcoming season before offering the team for sale. Former owner Ali Tareen, who was an approved bidder at this year’s auction, withdrew at the last moment and confirmed his intention to bid for Multan when it returns to the market.
FKS CEO Fawad Sarwar said at a press conference following the auction, “I still can’t believe. This is a childhood dream. We all started playing street cricket and backyard cricket, practicing in front of the mirror, trying to be the next big thing. I’m very proud, and I’d like to thank everyone who put us in a position to come where we are today.”
OZ group CEO Hamza Majeed expressed, “God gave us the chance to be successful. As an overseas Pakistani, it’s everyone’s dream to do something for Pakistan. Cricket runs in our blood. I’m looking forward to this PSL Get ready, Sialkot. Sialkot had its own airport, its own airline. Now it’s got its cricket team. The Sialkot sports industry will be elevated by our PSL team, and we’d love to win this title in PSL XI.”
