In a landmark event for the Pakistan Super League (PSL), two new teams were added to the competition following a record-breaking franchise auction held on January 8, 2026. Sialkot and Hyderabad secured their places in PSL XI after massive bids from OZ Developers and FKS Group, respectively.
OZ Developers made history by placing an astounding Rs1.85 billion bid for Sialkot, narrowly beating software company i2c, which had bid Rs1.82 billion. This marked the highest-ever bid for a PSL franchise, signaling the growing commercial appeal of the league. The auction took place at the Jinnah Convention Centre in Islamabad, where the excitement was palpable as bidders competed fiercely for the new franchises.
Meanwhile, FKS Group emerged victorious in the first round of bidding, securing Hyderabad for Rs1.75 billion. The bidding for Hyderabad was also competitive, with i2c pushing the final bid to Rs1.7 billion before FKS sealed the deal. This will be Hyderabad’s debut in PSL, and the addition of Sialkot and Hyderabad will bring a fresh dynamic to the league, further expanding its reach across Pakistan.
This year’s PSL expansion sees both cities entering the competition for the first time since the league’s inception in 2015. The two new teams will be part of the upcoming PSL season, which is scheduled to run from March 26 to May 3, 2026. The inclusion of Sialkot and Hyderabad brings the total number of teams in PSL to eight.
The auction also featured bids from other prominent companies, including Aim Next Inc, Deharki Sugar Mills, Inverex Solar, Jazz, and Walee Pakistan. These bids come after months of excitement surrounding the expansion, with investors from around the world, including Europe, the US, and the Middle East, showing strong interest in the franchises. The auction deadline had been extended multiple times due to the growing demand.
In a notable development, former Multan Sultans owner Ali Tareen withdrew from the auction, announcing that he and his family would not be participating. Tareen, who had been deeply involved with the Multan franchise, expressed that his connection to South Punjab was the driving force behind his initial involvement. He further stated that if he were to return to the PSL, it would only be for a team representing his beloved region.
With two new franchises on board, the PSL continues to evolve as one of the most lucrative and exciting cricket leagues globally. Fans eagerly await the debut of Sialkot and Hyderabad, adding to the league's growing allure and competitive spirit.
