ISLAMABAD (Kashmir English): The FKS Group and OZ Developers on Thursday won the auction for the 7th and 8th Pakistan Super League (PSL) teams with the staggering prices of Rs1.75 billion and Rs1.85 billion, respectively.
The bidders named their franchises after Hyderabad and Sialkot following the completion of the expansion auction ahead of the upcoming season of PSL in 2026.
The bid for the 7th team started with the base price of Rs 1.10 billion, and all 10 qualified bidders competed fiercely for the new team.
The business group owned by Fawad Sarwar emerged as the winner and named the team after Hyderabad, becoming the second franchise from Sindh province.
Similarly, with the base price of Rs 1.70 billion, Oz Developers, owned by Mr Hamza Majeed, successfully acquired the ownership of the eighth PSL team for Rs 1.85 billion.
The winner selected the home city for the franchise from the PCB-approved list that included Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi, and Sialkot.
More to Follow
