Pakistan Super League enters new era as Sialkot and Hyderabad join league for 2026 season

  A real estate consortium and a US-based aviation and healthcare conglomerate won the bids for two new Twenty20 franchises in the Pakistan Super League (PSL) for $12.75 million on Thursday night.

OZ Developers named Sialkot as its new franchise which it won at auction for Rs1.85 billion ($6.55 million).

FKS Group from the United States chose the name of Hyderabad after securing the bid for Rs1.75 billion ($6.2 million).

The new teams will expand the PSL to eight teams when the season begins from March 26.

Multan Sultans will be run by the Pakistan Cricket Board this year before they go up for sale after the PSL ends in April.

Multan’s former owner Ali Tareen, who developed differences with the PSL management, was eligible to bid for the two new teams but pulled out at the last minute from a pool of 10 approved bidders at Thursday’s auction.

"If I come back to PSL, it has to be for the same reason,” Tareen wrote on X before the auction.

"South Punjab is where my heart is. It is home. When the Multan team is being sold, we’ll be ready. Wishing all the bidders the best.”

Addressing the media alongside the successful bidders and Salman Naseer (PSL CEO), Chairman Pakistan Cricket Board (PCB) Mohsin Naqvi termed the expansion a landmark moment for Pakistan cricket.

“The PCB has succeeded in achieving outstanding results. It was my commitment to the nation that I would bring the best businessmen from across the world to Pakistan, and today that promise has been fulfilled,” he said. “Two leading international businessmen have now joined the PSL family.”

New PSL teams to boost grassroots cricket, foreign investment: PM

According to a NNI report, Prime Minister Shahbaz Sharif met representatives of the firms that won the bidding for two new teams in the PSL, congratulating them on their successful bids and calling the expansion a major boost for Pakistan cricket.

During the meeting, the prime minister congratulated the representatives of the newly awarded Sialkot and Hyderabad franchises and extended his best wishes for their participation in the league. He said the addition of two new teams would increase the popularity and competitiveness of the PSL.

Shahbaz described the new franchises as a "breath of fresh air" for the tournament. He also paid tribute to PCB Chairman Mohsin Naqvi and the PCB management for conducting a successful and transparent bidding process.

The prime minsiter noted that the bidding was broadcast live on television, calling it clear proof of transparency and good governance in Pakistan's sports administration.

He said the inclusion of Sialkot and Hyderabad teams would help promote cricket at the grassroots level across the country. He added that expanding the league would create more opportunities for young players and support the emergence of new talent.  

According to him, a broader PSL structure strengthens the national cricket pipeline.

Shahbaz welcomed the strong interest shown by international firms in bidding for the new teams.

He said the process has encouraged foreign investment in Pakistan and further enhanced the PSL's global profile.  

The prime minister also highlighted the role of overseas Pakistanis, noting that they have consistently contributed to the country's development, including in sports and investment.  

Associated Press