“Ten years of PSL have led us to this moment.”
OZ Developers secured the PSL’s Sialkot franchise with a record-breaking Rs 1.85 billion bid during a high-stakes auction in Islamabad.
The offer surpassed software company i2c’s Rs 1.82 billion bid in a tense second round, making it the highest amount ever paid for a PSL team.
Moments earlier, FKS Group won the Hyderabad franchise for Rs 1.75 billion, edging out competition from i2c, whose final offer had reached Rs 1.7 billion.
The auction was held at the Jinnah Convention Centre, where ten prospective bidders vied for the two new PSL teams.
This included Aim Next Inc., Deharki Sugar Mills, Inverex Solar, Jazz, Prism Developers, VGO TEL, and Walee Pakistan.
The base price for the seventh franchise, which became Hyderabad, was set at Rs 1.1 billion, while the eighth team, Sialkot, carried a starting price of Rs 1.7 billion.
Both cities will make their PSL debut, joining existing teams Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings, and Multan Sultans.
PSL CEO Salman Naseer shared the stage with commentator and former Pakistan captain Wasim Akram, who encouraged bidders to see ownership as more than financial investment.
Naseer said at the start of the auction: “Ten years of PSL have led us to this moment.”
Ahead of bidding, Pakistan Cricket Board Chairman Mohsin Naqvi awarded Rs 90 million to the team that won the Rising Star Asia Cup and Rs 18.5 million to the Hong Kong Sixes champions.
Interest in the auction grew internationally, prompting the PCB to extend the bidding deadline twice, from December 15 to December 22 and again to December 24, 2025.
The cities available for new franchise included Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi, and Sialkot.
This ultimately resulted in Hyderabad and Sialkot joining the PSL roster.
Former Multan Sultans owner Ali Tareen announced he and his family would not participate in the auction this year.
He emphasised that his previous involvement focused on representing South Punjab.
Tareen wrote: “Our time with Multan Sultans was never just about owning a cricket team. It was about South Punjab.”
He added that he would return to the league only for similar reasons, while this year he plans to cheer from the stands and celebrate the game with fans.
The new franchises signal an expanded PSL in 2026, scheduled from March 26 to May 3, 2026, reflecting increased investment, global interest, and growing opportunities for Pakistani cricket.
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