The Pakistan Super League (PSL) has officially expanded to eight teams after the successful auction of two new franchises, Hyderabad and Sialkot. The auction was held in Islamabad and generated a combined total of Rs3.6 billion for the two teams.
The auction event took place at the Jinnah Convention Centre and was attended by Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi, federal ministers, senior officials, and players. Ten bidders and six shortlisted cities were introduced before the proceedings began.
PCB Chairman Mohsin Naqvi formally opened the auction by ringing the ceremonial bell. Former Pakistan captain Wasim Akram served as the auctioneer and guided the bidding rounds.
Bidding for the seventh PSL franchise started at Rs1.1 billion. A competitive contest emerged between FKS Group and I2C Group. Eventually, FKS Group secured the franchise with a winning bid of Rs1.75 billion. The team will be based in Hyderabad, marking the league’s seventh city.
The eighth team’s bidding began at Rs1.7 billion. OZ Developers emerged as the highest bidder, acquiring the Sialkot franchise for Rs1.85 billion. With this acquisition, Sialkot became the eighth city to host a PSL team.
The addition of Hyderabad and Sialkot brings the total number of PSL franchises to eight, representing a significant milestone in the league’s growth and popularity. Officials emphasized that this expansion would enhance competition and create new opportunities for players and investors alike.
During the ceremony, PCB Chairman Mohsin Naqvi congratulated the successful bidders and commended the PSL management for their efforts in strengthening the league. He highlighted that the expansion reflects the league’s continued success and rising global recognition.
The event also included prize distributions for national teams. The Pakistan Shaheens and the Hong Kong Sixes team were recognized for recent tournament achievements. Rising Stars Asia Cup winners received Rs90 million, while the Hong Kong Sixes champions were awarded Rs1.85 million in prize money.
The PSL’s expansion to eight teams is expected to boost cricket’s popularity across new regions. Moreover, it will provide fans with greater access to live matches and create more opportunities for sponsorship and business development.
