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HBL PSL expands as Sialkot, Hyderabad sold for record prices

admin January 8, 2026

PSL

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(dailyjurat)The Pakistan Super League (PSL) took a major step towards expansion on Thursday as two new franchises were sold at record prices during a high-profile auction at the Jinnah Convention Centre, confirming an eight-team competition from the 11th edition of the league.

The highly anticipated auction, conducted by the Pakistan Cricket Board (PCB), featured 10 qualified bidders competing for the seventh and eighth teams ahead of PSL season 11, which will be the league’s first edition with eight franchises.

The auction began at 5:00 pm with the bidding for the seventh team, set at a base price of PKR 1.1 billion. What followed was an intense contest involving several corporate heavyweights, including Inverex Solar Energy, Walee, Prism Estate & Builders, OZ Group of Companies, i2c and Southeast Asian holding company FKS.After a series of aggressive counters that pushed the price well beyond the base valuation, FKS emerged as the winning bidder with a final offer of PKR 1.75 billion. Shortly after securing the franchise, FKS owner Fawad Sarwar confirmed that the team would represent Hyderabad, a major cricketing centre in Sindh. The announcement was made at 5:30 pm, drawing applause from officials and bidders alike.

The focus then shifted to the auction for the eighth team, which commenced at 5:50 pm with a base price of PKR 1.7 billion. The bidding quickly turned into a duel involving USA-based Aim Next Inc., i2c and OZ Developers, with the price rising in steady increments of at least PKR 10 million, as stipulated by the auction rules.After multiple lead changes, OZ Developers sealed the deal with a winning bid of PKR 1.85 billion, the highest price paid for a PSL franchise to date. At 6:30 pm, Sialkot was confirmed as the home city for the eighth team, adding another historic cricketing hub to the PSL map.Under the auction framework, all bids were quoted in Pakistani rupees, with bidders allowed to exceed the minimum increment without restriction. Each participant was also permitted a single five-minute strategic timeout during a round to consult advisers, though participant with rival bidders was prohibited.

Earlier, the PCB had confirmed the list of 10 qualified bidders, which included Inverex Solar Energy, OZ Group of Companies, VGO TEL Mobile, Jazz, DSM, i2c, Prism Estate & Builders, Walee, Aim Next Inc. and FKS. Successful bidders were granted the right to select a home city from a PCB-approved list that featured Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad and Gilgit.