The ceremony for the auction of two new teams of the Pakistan Super League (PSL) took place on Thursday, January 8, 2026, at the Jinnah Convention Centre.
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Shortlisted cities
This season, two new teams are being added. PCB has shortlisted Hyderabad, Faisalabad, Muzaffarabad, Gilgit, and Sialkot for the successful bidder to select the new team’s name.
After FKS bought the seventh team of PSL, Hyderabad city was chosen. After OZ developers bought the eighth new team, they chose Sailkot city.
Shortlisted bidders
The bidders have been shortlisted as well. They include OZ Developers, Aim Next inc, Deharki Sugar Mills, FKS, Inverex, i2c, Jazz, Prism Developers, VGO Tel and Walee Technologies.
The bid is for 10 years only. Additionally, the fee each year will be the same as well.
Previously, Multan Sultans were added during the third season of the PSL. After this addition, the number of teams increased from five to six.
This year two additional teams are being introduced. The total number will increase from six to eight.
PSL 11 is set to take place from March 26 to May 3
The king of swing, Wasim Akram, came on the stage to explain the auction rules.
PSL auction rules
- All bids shall be quoted in Pakistani Rupees (PKR).
- The minimum incremental bid from the base price announced by PCB shall be PKR 10,000,000 (ten million rupees only).
- No bid increase of less than the minimum incremental bid shall be accepted.
- Bidders may choose to make a bid in excess of the minimum incremental bid. No limit.
- Each bidder shall have the right to exercise one (1) strategic timeout of up to five (5) minutes. Only once during each round of the auction.
- During this strategic timeout, bidders may consult with their representatives. Before they decide their future course of action in the auction, but shall not be permitted to communicate with other bidders.
- A bidding round shall be declared closed when any other bidder does not surpass the highest incremental bid in excess of the base price despite a final call by the auctioneer.
- Upon closure of the bidding round, the highest valid bid in excess of the base price shall be provisionally declared the winning bid.
Round 1
The base price has been set at Rs1.1 billion.
A bid of Rs168 crore was offered for the auction of PSL’s seventh team. Afterwards, the bid was raised to Rs170 crore. This was called the highest bid in the history of PSL.
One of the two new PSL franchises has been sold to Kingsmen. FKS bought PSL’s seventh team for Rs175 crore.
The name for the new team has been chosen as Hyderabad.
FKS Group wins the bid and chooses Hyderabad city.
— PTV Sports (@PTVSp0rts) January 8, 2026
Welcome, Hyderabad, to the PSL family, with Niaz Stadium, Hyderabad, as the home venue. 🇵🇰❤️🔥#PSLAuction #NewEra #ptvsports pic.twitter.com/SJXuszT9ZM
Round 2
The second new PSL franchise has been sold to OZ Developers. They bought PSL’s eighth team for Rs185 crore.
The eighth new team for the PSL has been named Sialkot.
The round started from Rs1.7 billion as the base price. By this point, eight bidders were left.
With this, Sailkot and Hyderabad have been welcomed to the PSL family.
‘Reflection of affection for cricket’: Mohsin Naqvi
Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi said that today is the biggest auction in the history of PSL.
Addressing the auction ceremony of the new PSL teams, he said that cricket is developing in Pakistan.
He added that this was not just PCB’s win, but an achievement for the entire of Pakistan.
‘Today’s auction was not insignificant. It is a confidence in investment in Pakistan,’ he said.
Further, he added, “This is not a small amount. It is a reflection of the people’s love and affection for cricket.”
Mohsin Naqvi assured the people present at the auction that there are still many opportunities.
He said that this success is the success of Pakistan and the PCB. He congratulated Fawad Sarwar of the FKS Group and Hamza Majeed of the OZ developers, who bought the teams.
Additionally, he also congratulated Hyderabad and Sialkot, stating that this is a historic moment for PSL.
Natalie Baker congratulates
While holding a press conference in Islamabad along with the owners of the two new PSL teams and Chairman PCB Mohsin Naqvi, the US Chargé d’Affaires Natalie A Baker said that she congratulated the Pakistani nation and the PSL.
She says that American investment is happening in Pakistan, relations between Pakistan and the US will strengthen, and trade between the two countries will be promoted.
