ISLAMABAD: In a landmark development for Pakistani cricket, the FKS Group,a conglomerate led by US-based businessman Fawad Sarwar, has secured therights to the new Hyderabad franchise in the Pakistan Super League (PSL)for a staggering Rs1.75 billion during the auction held today. This winmarks the entry of international investment into the league, expanding itto eight teams ahead of the 2026 season and signalling growing globalconfidence in Pakistan’s premier T20 competition.
The auction, conducted at the Jinnah Convention Centre, saw intense biddingamong nine qualified entities for two new franchises representing Hyderabadand Sialkot. The FKS Group’s successful bid for Hyderabad came afteroutbidding competitors, including local consortia, in a process overseen bythe Pakistan Cricket Board (PCB). Meanwhile, OZ Developers clinched theSialkot franchise for Rs1.85 billion, pushing the total value of the newteams to over Rs3.6 billion.
This expansion follows the expiry of original franchise agreements post the2025 season, during which five existing teams renewed their rights underrevised valuations by Ernst & Young. The addition of Hyderabad and Sialkotrevives cricket enthusiasm in regions long deprived of top-tierrepresentation, promising enhanced fan engagement and economic booststhrough increased matches and sponsorships.
FKS Group, primarily known through its association with Kingsmen and headedby Fawad Sarwar, brings a fresh perspective to the PSL. Sarwar, aPakistani-origin entrepreneur based in the United States, has expressedcommitment to building a competitive squad that honours Hyderabad’s richcricketing heritage while fostering youth development in Sindh.
The PCB’s decision to expand the league to eight teams aligns with itsstrategy to elevate the PSL’s commercial appeal, especially as it overlapswith the Indian Premier League schedule from March 26 to May 3, 2026.Higher franchise fees reflect the league’s maturing broadcast rights andsponsorship deals, which have grown substantially since its inception in2016.
Data from previous seasons indicates that PSL franchises have seenvaluation increases of over 300 percent in some cases, driven by risingviewership figures exceeding 150 million globally. The entry offoreign-backed owners like FKS Group could further attract internationalplayers, potentially raising the competition’s standard and player salaries.
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Critics had raised concerns about the timing and transparency of theauction process, but PCB Chairman Mohsin Naqvi emphasised its adherence tointernational standards, with 12 initial bids narrowed to qualifiedparticipants from multiple countries. The successful sales underscoreinvestor trust despite regional security perceptions.
For Hyderabad, a city with a passionate cricket following but no PSL teamsince the league’s launch, this franchise represents a long-awaitedrevival. Local stakeholders anticipate job creation in event management andinfrastructure upgrades at potential venues like the Niaz Stadium.
The combined bids of Rs3.6 billion highlight the PSL’s financialrobustness, surpassing initial base prices set at around $4 million perfranchise. This influx will bolster PCB’s resources for grassrootsprogrammes and women’s cricket initiatives.
As the league prepares for its eleventh edition, the integration of newowners like Fawad Sarwar’s FKS Group is expected to inject innovation inteam branding and fan interaction, setting the stage for a more dynamic andinclusive PSL era.PCB