Hyderabad goes to FKS for Rs1.75bn: OZD wins Sialkot for record-breaking Rs1.85bn in PSL auction

ISLAMABAD: The auction for two new franchises in the Pakistan Super League (PSL) concluded on Thursday, with FKS Group winning Hyderabad for Rs1.75 billion and OZD Developers securing Sialkot with a record-breaking Rs1.85 billion bid.

The auction witnessed intense bidding, especially between OZD Developers and i2c for the Sialkot franchise. i2c’s final bid reached Rs1.82 billion before OZD Developers outbid them, setting a new record for PSL franchise sales.

FKS Group claimed the Hyderabad franchise after a competitive round, with their Rs1.75 billion bid surpassing i2c’s Rs1.7 billion offer. The base price for Hyderabad was Rs1.1 billion, while Sialkot’s opening bid started at Rs1.7 billion.

Hyderabad and Sialkot will debut in PSL XI, scheduled from 26 March to 3 May 2026. The auction also featured bids for cities like Faisalabad, Gilgit, Muzaffarabad, Rawalpindi, and Sialkot.

The existing PSL teams include Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings, and Multan Sultans.

Ten bidders participated, including FKS, OZD Developers, i2c, Aim Next, Deharki Sugar Mills, Inverex Solar, Jazz, Prism Developers, VGO TEL, and Walee Pakistan.

PSL CEO Salman Naseer attended the event, noting, “Ten years of PSL have led us to this moment,” highlighting the auction’s significance in expanding the league’s reach.

Prior to the auction, former Multan Sultans owner Ali Tareen announced he would not participate, stating his involvement in the league had always been focused on representing South Punjab.

He said he would cheer for the teams this season but future involvement would depend on opportunities to support the region further.

Meanwhile, in a statement, Prime Minister Shehbaz Sharif congratulated the Pakistan Cricket Board (PCB) on successfully organising the auction and praised the addition of new franchises.

Copyright Business Recorder, 2026