ISLAMABAD (Kashmir English): The Pakistan Super League (PSL) Thursday welcomed its seventh franchise as US-based FKS Group won the bid for the new team through the highest price at an auction held in Islamabad.
The management rights of the new PSL team, Hyderabad, were secured for Rs175 crore (approximately $6.25 million) The franchise was secured by FKS Group, headed by its president, Fawad Sarwar.
Speaking after bidding process, Fawad Sarwar said that the team would proudly carry the name of Hyderabad, his hometown adding the full name of the franchise would be revealed at a later stage.
Sarwar was born and raised in Hyderabad, where he completed his early education before pursuing higher studies at leading international institutions.
FKS Group’s entry into the PSL
Although he currently resides in the US, Sarwar said his emotional connection with Hyderabad remains strong. “I always wanted Hyderabad to have representation in the PSL,” he said, adding that acquiring a PSL team to carry the city’s name had been his long-standing dream.
Fawad Sarwar is a prominent businessman with diversified interest in multiple sectors. He is the founder and owner of Kingsmen Sports and Enterprises. He also owns the Chicago Kingsmen cricket team in the United States.
A cricket enthusiast, Sarwar remained actively involved in promoting the sport through business and investment. His primary business venture is the FKS Group, where he serves as president.
The group’s portfolio includes ProCare Health, FKS Aviation, and Kingsmen Enterprise. In addition, Sarwar leads several investment firms, including Sand2Glass Investments, Gilded Investments, and Minus2Degrees.
With the acquisition of the PSL’s seventh team, now Sarwar has entered Pakistan’s premier cricket league as a franchise owner, marking what he described as a personal milestone and a tribute to his hometown of Hyderabad.
