OZ Developers has acquired the eighth Pakistan Super League franchise for Rs1.85 billion. The auction for two new PSL teams is underway at Islamabad’s Jinnah Convention Centre. Earlier, FKS Group secured the seventh team for Rs1.75 billion and chose Hyderabad as its home city.
After Ali Tareen withdrew, nine parties are competing in the auction. OZ Developers won the bid and will now select a home city from Rawalpindi, Faisalabad, Gilgit, Muzaffarabad, and Sialkot. The successful bidder will complete the league’s expansion to eight teams.
Read more: Seventh PSL team sold for Rs1.75bn as FKS wins bid
Fawad Sarwar, owner of the Hyderabad franchise, said he grew up in Hyderabad and wanted to invest in a team from his city. He expressed excitement about joining the PSL and representing the city.
PKR 1️⃣8️⃣5️⃣ crores – A historic moment to witness!
Celebrations galore as OZ Group become a part of the #HBLPSL family
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqaqu#NewEra pic.twitter.com/eo0ozr8ipk— PakistanSuperLeague (@thePSLt20) January 8, 2026
The PCB hosted roadshows in London and New York to attract international investors. Twelve parties from five continents submitted bids, of which ten qualified for the second stage. However, Tareen Group withdrew at the last moment, leaving nine bidders in the competition for the final franchise.
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: Ali Tareen withdraws from PSL bidding at last moment
With both FKS Group and OZ Developers securing teams, the league now has seven confirmed franchises. The remaining successful bidder will finalize the eighth team, completing Pakistan Super League’s 2026 expansion.