Hyderabad Confirmed as PSL’s Seventh Team After Historic Rs1.75bn Franchise Auction
ISLAMABAD: Hyderabad has officially been confirmed as the seventh team of the Pakistan Super League (PSL) after the FKS Group successfully acquired the franchise for Rs1.75 billion in a landmark expansion auction held on Thursday.
Owned by businessman Fawad Sarwar, the FKS Group outbid nine other qualified contenders to secure one of the two newly introduced PSL teams. The aggressive bidding reflected growing commercial interest in the league as it continues its global expansion.
The PSL previously expanded from five to six teams in its third season with the addition of Multan Sultans. Now, ahead of the historic 11th edition, the Pakistan Cricket Board (PCB) has approved two additional franchises, increasing the total number of teams from six to eight.
The upcoming PSL 11 season is scheduled to run from March 26 to May 3, promising another high-octane cricket spectacle for fans in Pakistan and around the world.
With seven franchises now confirmed, the race intensifies for the eighth and final team, as the remaining qualified bidders prepare to submit higher offers. Successful bidders were permitted to choose a home city from a PCB-approved list, which included Hyderabad, Faisalabad, Rawalpindi, Sialkot, Muzaffarabad, and Gilgit.
Following the PSL’s successful 10th edition, the PCB conducted a valuation of existing franchises and offered contract renewals. Five franchise owners accepted extensions, while Multan Sultans reverted to PCB control after its ownership opted out.
To attract international investment, the PCB hosted PSL roadshows at Lord’s Cricket Ground in London and in New York, generating unprecedented interest from investors across five continents, including the USA, Australia, Canada, UAE, and Pakistan.
After a rigorous evaluation process, 10 bidders were initially shortlisted, though one group withdrew at the final stage, leaving nine active contenders in the auction.
The PSL’s rapid expansion highlights its growing stature as one of the world’s most commercially successful T20 leagues.
