The Pakistan Super League (PSL) expanded its footprint on Thursday, introducing two new franchises and taking the league from six to eight teams. The new additions bring fresh excitement to the T20 tournament, which has grown in popularity across the cricketing world.
The auction saw a US-based aviation and healthcare conglomerate, FKS Group, secure the Hyderabad franchise for $6.2 million (around INR 55.57 crore). Meanwhile, OZ Developers, a real estate consortium, won the bid for the Sialkot franchise at $6.55 million (approximately INR 58.38 crore). Combined, the two teams were sold for $12.75 million (INR 114 crore), marking a significant investment in Pakistan’s premier T20 league.
Interestingly, the Hyderabad franchise’s price closely mirrors the combined IPL salaries of India stars Shreyas Iyer (Rs 26.75 crore) and Rishabh Pant (Rs 27 crore). Together, the two players earned Rs 53.75 crore, just slightly less than the Hyderabad team’s $6.2 million valuation. In comparison, the total cost of the two new PSL teams is still lower than the top nine IPL player salaries in 2026, which totaled Rs 118 crore.
The new franchises are expected to play a major role in the upcoming PSL season, set to kick off on March 26. Multan Sultans will continue under Pakistan Cricket Board management until the league concludes in April, after which they will go up for sale.
Ali Tareen, the former owner of Multan Sultans, withdrew from bidding at the last moment despite being eligible, citing his preference for South Punjab. “South Punjab is where my heart is,” Tareen tweeted before the auction.
The expansion reflects PSL’s ambitions to grow the league commercially while increasing competition and fan engagement. Fans will now have more teams, players, and thrilling T20 action to look forward to this season.
