Not a mere auction but proof of investors’ trust in Pakistan: PCB Chairman

Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi Thursday termed the auction of two new Pakistan Super League (PSL) franchises a major success for the league, the PCB and Pakistan, saying the process reflected growing international confidence in the country.

Addressing a press conference alongside the new franchise owners, Naqvi said five US-based companies participated in the bidding process, which witnessed extremely tough competition.

He said special measures were taken to ensure complete transparency throughout the auction.

“Today’s auction is not just a success for the PSL but also for the PCB and Pakistan,” Naqvi said, adding that it was a moment of pride for the entire nation.

He credited the PCB team for their efforts and described the day as one of collective joy for Pakistanis.

Naqvi highlighted that Fawad Sarwar, who acquired the Hyderabad-based franchise, is a Pakistani who moved to the United States more than two decades ago but remains deeply connected to Pakistan.

He said Sarwar’s return as an investor reflected his love for the country. Naqvi also acknowledged the PCB team for conducting successful roadshows abroad that helped attract foreign investment.

Referring to recent developments, the PCB chairman said the PSL auction was part of a broader trend of renewed investor confidence, citing recent bidding activity in other sectors as well. He said American companies made up four to five of the bidders, underlining increasing US investment interest in Pakistan.

Naqvi said Hamza Majeed of OZ Developers, who secured the Sialkot franchise, is currently based in Australia. He added that the Prime Minister and the Field Marshal were pleased with the outcome of the auction, noting that the incoming capital would be spent on developing sports in Pakistan.

“There are now eight teams in the PSL, and we will work to further strengthen them,” Naqvi said, adding that plans were also underway to develop stadium infrastructure in Hyderabad and Sialkot.

US Chargé d’Affaires Natalie Baker, who was also present, welcomed American partnership in Pakistan cricket. She said Australia, Pakistan and the United States coming together through the PSL was a positive sign and expressed satisfaction as an American representative.

Baker said American investment in Pakistan would help strengthen bilateral relations and promote trade between the two countries.

Lahore Qalandars owner Atif Rana credited the success of the PSL to PCB Chairman Mohsin Naqvi and PSL Chief Executive Salman Naseer, noting that the PCB had focused on stadium development and grassroots cricket in recent years.

Speaking on the occasion, FKS Group owner Fawad Sarwar said acquiring a PSL franchise was the fulfilment of a childhood dream.

He thanked his team for their support and said the investment would also help strengthen relations between Pakistan and the United States.

OZ Group owner Hamza Majeed said cricket was deeply rooted in Sialkot’s identity.

“Sialkot already has an airport, and now it has a PSL team as well,” he said, expressing confidence that his team would aim to win PSL 11.

Naqvi said the PCB preferred to respond to criticism through performance rather than statements, adding that while the PSL had faced financial losses in the past, it was now moving towards profitability and would demonstrate this progress to the public.