A landmark day for PSL as Sialkot and Hyderabad join the league
In a major milestone for the HBL Pakistan Super League, two new franchises — Sialkot and Hyderabad — were officially added to the league following a high-stakes auction held in Islamabad. The event marked the biggest expansion in PSL history and reaffirmed the league’s growing commercial and cultural relevance ahead of its 11th season.
The #NewEra is here like never before! 🔥
Hyderabad and Sialkot are the two new teams in #HBLPSL 👏 pic.twitter.com/stGHfjiW7i
— PakistanSuperLeague (@thePSLt20) January 8, 2026
The bidding began with fierce competition for the seventh PSL slot. Ten pre-qualified bidders, including corporate groups such as Inverex Solar Energy, Prism Estate & Builders, i2c and FKS Group, vied for ownership.
FKS Group, led by Fawad Sarwar, emerged victorious, securing the Hyderabad franchise for PKR 1.75 billion (approx. US$6.2 million).
🚨 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
Soon after, the auction for the eighth team commenced, with OZ Developers — represented by Hamza Majeed Chaudhry — winning the rights to the Sialkot franchise. Their winning bid of PKR 1.85 billion (approx. US$6.6 million) set a new record as the highest amount paid for a PSL team to date.
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 two franchises now join an expanded PSL roster of eight teams, set to compete in the upcoming 11th season from March 26 to May 3.
The base price for the seventh team, which was ultimately awarded to Hyderabad, had been set at PKR 1.1 billion (approx. US$3.9 million), while the bidding for the eighth team began from PKR 1.7 billion (approx. US$6.1 million). The aggressive jump in prices — with both teams sold well above their respective baselines — highlighted strong investor appetite and the league’s rising commercial appeal.
Fawad Sarwar, the new owner of the Hyderabad franchise
The Hyderabad franchise will be owned by FKS Group, headed by its President Fawad Sarwar, a US-based businessman with diversified interests across multiple sectors. Sarwar, who was born and raised in Hyderabad, has long expressed a desire to see his hometown represented on the PSL stage.
Speaking after securing the franchise, Sarwar confirmed that the team would carry the Hyderabad name, calling the acquisition a personal milestone and a tribute to the city where he grew up. Although now based in the United States, Sarwar has maintained strong personal and emotional ties to Hyderabad.
Sarwar is the founder and owner of Kingsmen Sports and Enterprises and also owns the Chicago Kingsmen cricket team in the United States. His broader business portfolio includes FKS Aviation, ProCare Health and Kingsmen Enterprise, alongside several investment firms such as Gilded Investments, Sand2Glass Investments and Minus2Degrees. A self-described cricket enthusiast, Sarwar has remained actively involved in promoting the sport through both business and investment.
Hamza Majeed Chaudhry and OZ Developers bring Sialkot into the PSL
The Sialkot franchise will be owned by OZ Developers, led by Chairman Hamza Majeed Chaudhry, an overseas Pakistani with deep ties to the sport. Chaudhry previously lived in Australia before relocating to Pakistan several years ago and is widely regarded as a committed supporter of cricket at both domestic and international levels.
Under his leadership, OZ Group has built a presence across multiple sectors, with associated brands such as Wise Market holding a notable position in the business landscape. Chaudhry has also been involved in international cricket-related initiatives, including sponsorship of the World Championship of Legends in the United Kingdom, reflecting his continued engagement with the global game.
The addition of a Sialkot-based franchise brings one of Pakistan’s most historic cricketing and sports manufacturing cities into the PSL fold, further strengthening regional representation within the league.
Ali Tareen sits out, but hints at a return
Notably absent from the auction was former Multan Sultans owner Ali Khan Tareen, who addressed his decision on X, making it clear that while he wasn’t participating this time, his journey in the PSL may not be over.
“Our time with Multan Sultans was never just about owning a cricket team. It was about South Punjab. About giving a voice to a region that had been overlooked for too long. That’s what drove everything we built,” he said.
Tareen emphasized that any return to the PSL would be guided by the same purpose. “If I come back to PSL, it has to be for the same reason. South Punjab is where my heart is. It is home,” he added.
Instead of bidding, Tareen said he would support the league from the stands this season. “This year, I’ll be in the stands. Cheering for players on and celebrating with the fans,” he wrote, before adding, “And when the Multan team is being sold, we’ll be ready.”
The Multan franchise will be run by the league in 2026 and is scheduled to be auctioned after the coming season.
Tareen signed off with a nod to his own reputation of being vocal with the PSL: “Wishing all the bidders the best. May the most outspoken owner win! 😄❤️”
After careful consideration, my family and I have decided not to participate in today’s PSL franchise auction.
Our time with Multan Sultans was never just about owning a cricket team. It was about South Punjab. About giving a voice to a region that had been overlooked for too…
— Ali Khan Tareen (@aliktareen) January 8, 2026
Mohsin Naqvi hails the auction as a national win
Before the auction formally began, the Pakistan Cricket Board acknowledged recent on-field achievements by awarding prize money to national sides. The Rising Star Asia Cup-winning team received PKR 90 million (approx. US$320.3K), while the team that triumphed at the Hong Kong Sixes tournament was awarded PKR 18.5 million (approx. US$65.8K), setting a celebratory tone for the evening.
PCB Chairman Mohsin Naqvi later framed the auction as more than a commercial exercise. “First of all, I would like to congratulate Mr. Fawad Sarwar, FKS group and Hamza Majeed from OZ Developers. I would also like to congratulate the people of Hyderabad as well as Sialkot,” he said.
“We conclude today’s auction. It’s a historic moment for HBL Pakistan Super League. With the addition of two new teams, this is the biggest expansion in the league’s history,” he added.
Naqvi described the moment as a vote of confidence in the league’s future. “The PSL has grown beyond a tournament,” he said. “The trust shown by our new owners today helps strengthen Pakistan cricket on and off the field.”
He stressed the national significance of the expansion, saying, “I would like to congratulate every Pakistani. It was a successful bid for every Pakistani, not just PCB.”
Highlighting the responsibilities that come with ownership, Naqvi noted, “But now the owners are not just the team owners. They are the caretakers of the cities, communities, and the fans.”
Naqvi also committed long-term backing from the board. “We assure you PCB full support for the next 10 years, inshallah,” he said, before concluding, “I would like to thank all the bidders and partners who came today from different parts of the world. We all look forward to make this PSL as well as cricket stronger in our country.”
