Islamabad: Two new teams have officially joined the Pakistan Super League, taking the total number of franchises to eight. FKS Group purchased the seventh team for Rs1.75 billion and selected Hyderabad as its home city, while OZ Developers acquired the eighth team for Rs1.85 billion and chose Sialkot.
The auction for the new PSL franchises was held at the Jinnah Convention Centre in Islamabad. Following Ali Tareen’s withdrawal, nine parties competed for the two new teams in a highly competitive bidding process.
Mubarak ho, Sialkot! 🤩
Welcome to a bigger, grander #HBLPSL as the league expands to 8️⃣ teams 👏#NewEra pic.twitter.com/w3ujIacrWq
— PakistanSuperLeague (@thePSLt20) January 8, 2026
Read more: Seventh PSL team sold for Rs1.75bn as FKS wins bid
Fawad Sarwar, owner of the Hyderabad team, said he grew up in the city and always wanted to bring a franchise there. He expressed excitement about representing Hyderabad in Pakistan’s premier cricket league.
OZ Developers outbid rivals to secure the eighth PSL team for Rs1.85 billion. They selected Sialkot as the home city, marking the team’s debut in the league. Together, both new franchises were sold for a combined Rs3.6 billion.
Read more: Ali Tareen withdraws from PSL bidding at last moment
TEAM 7 in #HBLPSL IS HYDERABAD! 👏
Congratulations to FKS for the winning bid of PKR 175 crores 💫
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqIg2#NewEra pic.twitter.com/9EuNfB6kJm— PakistanSuperLeague (@thePSLt20) January 8, 2026