The Pakistan Super League (PSL) Thursday Sunday welcomed its seventh franchise after US-based FKS Group acquired the new team through the highest bid at an auction held in Islamabad.
The management rights of the new franchise were secured for Rs175 crore (approximately $6.25 million), with the team set to be named after Hyderabad. The franchise is owned by FKS Group, headed by its president, Fawad Sarwar.
Speaking after the successful bid, Fawad Sarwar announced that the team would proudly carry the name of Hyderabad, his hometown. He said the full name of the franchise would be revealed at a later stage.
Fawad Sarwar was born and raised in Hyderabad, where he completed his early education before pursuing higher studies at leading international institutions. Although he currently resides in the United States, Sarwar said his emotional connection with Hyderabad remained strong.
“I always wanted Hyderabad to have representation in the PSL,” Sarwar said, adding that acquiring a PSL team to carry the city’s name had been a long-standing dream.
Sarwar is a prominent businessman with diversified interests across multiple sectors. He is the founder and owner of Kingsmen Sports and Enterprises and also owns the Chicago Kingsmen cricket team in the United States. A cricket enthusiast himself, Sarwar has remained actively involved in promoting the sport through business and investment.
His primary business venture is the FKS Group, where he serves as president. The group’s portfolio includes FKS Aviation, ProCare Health, and Kingsmen Enterprise. In addition, Sarwar leads several investment firms, including Gilded Investments, Sand2Glass Investments, and Minus2Degrees.
With the acquisition of the PSL’s seventh team, Sarwar has entered Pakistan’s premier cricket league as a franchise owner, marking what he described as a personal milestone and a tribute to his hometown of Hyderabad.