The Pakistan Super League (PSL) has decided to increase the number of teams in its T20 event to eight after Thursday, thus welcoming two new franchises through an auction that has attracted worldwide attention and was of very high profile. Until now, the league had six teams.
A US-based aviation and healthcare conglomerate, FKS Group, secured the Hyderabad franchise for $6.2 million (approx. Rs 55.57 crore), while Pakistani real estate developer OZ Developers won the Sialkot team at $6.55 million (approx. Rs 58.38 crore). Together, the two franchises were sold for $12.75 million (approx. Rs 114 crore).
In a rather interesting twist, the price tag of the Hyderabad team is nearly the same as the overall IPL salaries of the two Indian cricketers Shreyas Iyer (Rs 26.75 crore) and Rishabh Pant (Rs 27 crore), which together sum up to Rs 53.75 crore. Such figures prompted the comparisons between the valuations of the franchises in the PSL and the salaries of the players in the Indian Premier League. Analysts also noted that the total cost of the two new PSL teams is lower than the combined salaries (Rs 118 crore) of the top nine IPL players from the 2026 auction.
The league’s new season will kick off on March 26, 2026, with the inclusion of the Hyderabad and Sialkot teams. The Multan Sultans will remain under the Pakistan Cricket Board’s management this year and will be put up for sale after the season concludes in April. Multan’s former owner, Ali Tareen, who previously had disagreements with PSL management, had the option to bid for the new franchises but withdrew last minute. Tareen expressed his commitment to South Punjab and stated on X, “If I come back to PSL, it has to be for the same reason. 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.”
The inclusion of the franchises from Hyderabad and Sialkot presents a milestone in the development of the PSL, not only increasing the potential market for the league but also opening doors for international investors into the leading T20 league in Pakistan.
