The 2025 Pakistan Super League (PSL) officially entered its “New Era” on January 8, 2026, as the cities of Sialkot and Hyderabad were inducted as the seventh and eighth franchises of the league. In a historic open auction held at the Jinnah Convention Centre in Islamabad, the Pakistan Cricket Board (PCB) oversaw a bidding war that shattered all previous financial records for the tournament. These new teams now take their place alongside established champions—three-time winners Lahore Qalandars and Islamabad United, as well as Peshawar Zalmi, Quetta Gladiators, Karachi Kings, and Multan Sultans—in what is set to be the most competitive season in the league’s history.
The selection of Sialkot and Hyderabad comes after a rigorous shortlisting process that included other potential hubs such as Faisalabad, Gilgit, Muzaffarabad, and Rawalpindi. This expansion marks the first time the PSL has grown beyond its original six-team format, increasing the total match count for the 11th season, which is scheduled to run from March 26 to May 3, 2026.
The Bidding War: Record-Breaking Stats
The auction was nothing short of a financial spectacle. The bidding for the seventh team started with a base price of PKR 1.1 billion. After an aggressive exchange between corporate heavyweights, the US-based aviation and healthcare conglomerate FKS Group, led by Fawad Sarwar, secured the franchise for a staggering PKR 1.75 billion. Shortly after, they confirmed Hyderabad as their home city, bringing a second team to the Sindh province alongside the Karachi Kings.
The excitement peaked during the auction for the eighth team. With the base price raised to PKR 1.7 billion, OZ Developers, represented by Hamza Majeed, edged out tech giant i2c with a final bid of PKR 1.85 billion. This makes Sialkot the most expensive franchise in PSL history. To put this into perspective, the annual fee for the new teams is nearly triple that of the original franchises, with Sialkot’s valuation alone roughly equal to the combined annual fees of the Lahore, Karachi, and Peshawar franchises.
Event Highlights and Pre-Auction Ceremonies
The Jinnah Convention Centre was transformed into a high-energy arena for the event, which was oversaw by PSL brand ambassador and legendary pacer Wasim Akram as the honorary auctioneer. The proceedings were broadcasted to a global audience via A Sports, Fast Sports, Geo Sports, and PTV Sports, while digital fans tuned in through Tapmad, Tamasha, Myco, and the PCB’s official YouTube channels.
Prior to the bidding, the PCB held a special felicitation ceremony to honor recent national heroes. The Pakistan Shaheens were awarded PKR 90 million for their Men’s Rising Stars Asia Cup 2025 victory in Doha, while the Hong Kong Super Sixes winning squad received PKR 18.5 million. The evening concluded on a high note with a soul-stirring live performance by renowned singer Rahat Fateh Ali Khan, celebrating the league’s successful expansion.
Preview: HBL PSL 11 Bidders & Event Summary
| Category | Details |
| New Teams | Sialkot (OZ Developers) and Hyderabad (FKS Group) |
| Winning Bids | Sialkot: PKR 1.85 Billion | Hyderabad: PKR 1.75 Billion |
| Qualified Bidders | Jazz, Inverex, VGO TEL, i2c, Walee, Prism Developers, Aim Next, Deharki Sugar Mills, FKS, OZ Developers |
| Official Hashtag | #NewEra |
| Broadcast Partners | A Sports, Fast Sports, Geo Sports, PTV Sports |
| Streaming Partners | Tapmad, Tamasha, Myco, PCB YouTube, PCB Live (UK) |
| Tournament Dates | March 26 – May 3, 2026 |
