PSL Team Auction 2026: Hyderabad and Sialkot franchises sold at record price, overseas investors join the league
The Pakistan Super League (PSL) reached new financial heights during the auction for its seventh and eighth franchises in Islamabad. The highlight came when technology firm i2c placed a bid of PKR 1.7 billion (approx. US$6 million), prompting PSL CEO Salman Naseer to remind viewers that this was an annual fee, not a one-time payment.
The two new franchises, Hyderabad and Sialkot, were eventually sold for a combined PKR 3.6 billion (approx. US$13 million) per year, guaranteeing PKR 36 billion (approx. US$130 million) over the next decade. This far surpassed the value of existing teams, with Lahore Qalandars the most expensive current franchise paying just PKR 670 million (approx. US$2.3 million) annually.
Grand Celebration for a Business Event
The PSL transformed what could have been a routine administrative procedure into a glamorous spectacle. Billboards lined the roads leading to the Convention Centre, and attendees were welcomed like celebrities. Inside the auction hall, a red carpet awaited the owners, while the PSL trophy and signed bats from previous champions were displayed prominently.
The auction hall had a mix of theatrical lighting and an elevated platform for owners, adding a sense of drama. “It felt more like a show than a meeting,” one media member remarked, capturing the PSL’s effort to turn business into entertainment.
Overseas Investment Drives Value
The PSL’s new franchises drew serious international interest, with most bids coming from overseas companies. FKS, a US-based aviation and healthcare conglomerate, secured Hyderabad, while OZ Developers, an Australian real estate group, acquired Sialkot for PKR 1.85 billion (approx. US$6.55 million), making it the most expensive PSL team to date.
The league’s appeal among overseas Pakistanis was clear. Both winning owners attended PSL “roadshows” in London and New York, which the PCB organized to attract potential investors. Fawad Sarwar, CEO of FKS, called himself a “cricket tragic,” while OZ Developers’ Hamza Majeed described owning a PSL team as a “dream come true.”
A Bold Financial Gamble
Despite record-breaking bids, the question of financial viability remains. Past franchises, such as Multan Sultans, have struggled, with owners walking away after one year. Still, the PSL’s pull has never been purely financial; its brand value and global appeal clearly entice investors.
PCB chairman Mohsin Naqvi praised the auction, calling it a vindication of the league’s growth and positioning the PSL alongside other top T20 franchise leagues. For now, the excitement and prestige of joining the PSL overshadow any financial uncertainty.
The new owners, however, will soon discover whether the high-stakes investment pays off and whether their dream truly matches the numbers on paper.