Sialkot, Hyderabad confirmed as PSL's new teams

The OZ Developers and FKS Group Thursday acquired the two new Pakistan Super League (PSL) franchises after successfully bidding of Rs 1.85billion and Rs1.75 billion, respectively, in the league’s expansion auction.

The company owned by Fawad Sarwar emerged as the winner by offering Rs1.75 billion, successfully leading the auction and taking the helm of the new franchise, which they named Hyderabad.

This marks the second major expansion in the league’s 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

FKS Group is a Southeast Asian conglomerate focused on food & agriculture, infrastructure, and property, known for its large distribution network in Indonesia and recent involvement in the Pakistan Super League (PSL) cricket auction, where their subsidiary, Kingsmen Group, successfully acquired a new franchise team in Hyderabad.

The group has a significant presence in agribusiness, especially soybeans, and has expanded into real estate and logistics through entities like FKS Food and Agri and FKS Land.

In the second round, OZ developers came on top and won the bid by offering Rs1.85billion and selecting Sialkot as the new Franchise city name.

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

OZ Developers is a diversified Pakistani business conglomerate involved in real estate, tech, and sports led by Australian-based Hamza Majeed.

Ali Tareen pulls out of auction

Previously, Multan Sultans became the first team to be added during the third season of the PSL, increasing the number of teams from five to six.

However, this year, the ownership of Multan Sultans was taken back from Ali Tareen after differences emerged between the PCB and the PSL franchise owner

Ali Tareen said he had pulled out of the HBL PSL team auction, as owning the team was also about “giving a voice” to south Punjab.

In a post on X, Tareen said he and his family would not participate in the franchise auction.

“Our time with Multan Sultans was never just about owning a cricket team. It was about south Punjab,” he wrote. “[It was] about giving a voice to a region that had been overlooked for too long. That’s what drove everything we built.”

Tareen added that if he were to return to the league, it would have to be for the same reason, stating that south Punjab “is where my heart is”.

“This year, I’ll be in the stands. Cheering for players on and celebrating with the fans. And when the Multan team is being sold, we’ll be ready,” he wrote.

With this year’s historic 11th edition, two additional teams have been introduced, taking the total from six to eight franchises.

The 11th edition of the PSL is all set to take place from March 26 to May 3, promising another thrilling season of cricket for fans across Pakistan and beyond.

With seven teams already confirmed, nine qualified bidders will compete with even higher bids to secure the rights to the eighth and final team, completing the league’s expansion.

Successful bidders were allowed to select a home city from a PCB-approved list that included Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad and Gilgit.