The FKS Group has acquired the seventh Pakistan Super League franchise by bidding Rs1.75 billion in a historic expansion auction. The auction took place at Islamabad’s Jinnah Convention Centre on Thursday, with Fawad Sarwar’s company emerging as the winner. This marks the second major expansion in PSL history.
🚨 SOLD – the magic moment! 🔨
FKS with the successful bid for Team No. 7️⃣ of #HBLPSL 👏
📺 Watch LIVE on the PSL YouTube channel & the PCB Live app (UK region)
🔗 https://t.co/HNapgvqIg2 pic.twitter.com/k7TaOZrlfL— PakistanSuperLeague (@thePSLt20) January 8, 2026
All 10 qualified bidders competed fiercely, placing high bids for the new franchise. Eventually, FKS Group outbid rivals to secure the team. The league’s 11th edition, set from March 26 to May 3, will feature this new addition.
Read more: Seventh PSL team sold for Rs1.75bn as FKS wins bid
With this year’s expansion, the PSL will have eight teams in total, up from six. Multan Sultans had previously been added in the third season, increasing the league from five to six teams. Investors can select a home city from PCB-approved options including Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit.
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
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.
Read more: Third bidder qualifies as PCB advances PSL expansion process
Shortlisted bidders include OZ Developers, Aim Next Inc, Deharki Sugar Mills, FKS, Inverex, i2c, Jazz, Prism Developers, VGO Tel, and Walee Technologies. The auction highlights growing global interest in PSL and sets the stage for an exciting new season.