ISLAMABAD: The Pakistan Super League (PSL) reached a historic milestone on Thursday as two new franchises, Hyderabad and Sialkot, were formally inducted into the league, transforming it into a vibrant eight-team competition from the 2026 season.
The expansion marks one of the most significant chapters in PSL’s journey, underlining its growing global appeal and commercial strength.
In a fiercely contested auction held in the federal capital’s Convention Centre, Sialkot’s franchise rights were acquired by Australia-based Pakistani businessman Hamza Majeed, owner of OZ Group/OZ Developers, for a staggering Rs1.85 billion per annum.
Meanwhile, American businessman Fawad Sarwar, head of the FKS Group, successfully secured the Hyderabad franchise for Rs1.75 billion per annum.
Expressing his emotions after the successful bid, Fawad Sarwar termed the moment a lifelong dream fulfilled. “It was my childhood dream to get involved in Pakistan cricket, and when the opportunity came, I seized it with both hands,” he said responding to The News question.
Explaining his choice of Hyderabad, Sarwar said his decision was deeply personal. “I was born in Hyderabad. The city has a special place in my heart, and I feel a strong affiliation with it. Representing Hyderabad in the PSL is an honour for me,” he added.
Hamza Majeed, who hails from Punjab and has established himself as a successful entrepreneur in Australia, said Sialkot was his natural choice. “Since I belong to Punjab, I wanted a city from the province. Sialkot immediately came to mind, it is the hub of sports in Pakistan. The city has its own airport, its own airline, and now it proudly has its own PSL franchise,” he remarked.
The bidding process itself was a spectacle, reflecting the league’s growing stature. Fawad Sarwar and I2C Group went head-to-head for the seventh team, with Sarwar eventually prevailing.
The battle for the eighth franchise saw OZ Group and I2C Group once again locking horns, where Hamza Majeed clinched the deal by outbidding I2C’s Rs1,820 million offer with a decisive Rs30 million increase.
Highlighting the broader vision behind his investment, Hamza Majeed said, “We want to contribute to Pakistan economy, and that is the main reason we have decided to invest in the PSL. This league has immense potential and a very bright future.”
Fawad Sarwar echoed similar sentiments, despite visible exhaustion after a long journey. “I reached Islamabad early Thursday morning and could not sleep all night. There were so many arrangements to be made,” he said. “I am thankful to everyone for their immense support and for the role they played in making this bid successful.”
Addressing the media alongside the successful bidders and Salman Naseer (PSL CEO), Chairman Pakistan Cricket Board (PCB) Mohsin Naqvi termed the expansion a landmark moment for Pakistan cricket. “The PCB has succeeded in achieving outstanding results. It was my commitment to the nation that I would bring the best businessmen from across the world to Pakistan, and today that promise has been fulfilled,” he said. “Two leading international businessmen have now joined the PSL family.”
Congratulating both franchise owners, Naqvi added: “I hope Fawad Sarwar and Hamza Majeed will prove to be valuable assets for the PSL. With their inclusion, the league will grow faster, stronger, and better.”
Mohsin Naqvi termed the latest franchise bidding process a historic milestone for Pakistan cricket, revealing that the bidding alone will inject a staggering Rs36 billion into the PCB’s coffers. Naqvi said the successful bidding marked the continuation of the landmark PIA-related bidding process concluded a few days earlier, reflecting renewed investor confidence in Pakistan’s sports economy and governance reforms. “This is not just a commercial transaction, it is an investment in Pakistan’s sporting future,” Mohsin Naqvi remarked.
“I am proud that every rupee generated through this bidding will be spent on the promotion and development of sports across the country.”
The PCB chairman disclosed that five companies from the United States actively participated in the bidding process, underlining the growing global appeal of Pakistan’s premier cricket brand.
He highlighted the inspiring journey of Fawad Sarwar, who migrated to the United States 26 years ago and has now returned to invest in Pakistan cricket by acquiring a franchise.
“Today marks exactly 26 years since Fawad Sarwar went to America. His return as an investor is a powerful message for overseas Pakistanis that the country is open for business,” Naqvi noted.
He further said that Hamza Majeed of AZ Developers, currently based in Australia, also emerged as a key figure in the bidding, reinforcing the strong participation of overseas Pakistanis in Pakistan Super League (PSL) expansion.
Naqvi revealed that the country’s top leadership had warmly welcomed the development. “The prime minister and the field marshal are extremely happy with the outcome. They see this as a vote of confidence in Pakistan’s stability, reforms and future potential,” he said.
According to Naqvi, the unprecedented financial inflow will be utilised to strengthen grassroots cricket, upgrade stadium infrastructure, invest in domestic competitions and ensure long-term sustainability of sports federations. “This bidding proves that when transparency, vision and credibility come together, Pakistan can attract record-breaking investments,” the PCB chairman concluded.
Adding an international dimension to the occasion, US Chargé d’Affaires Natalie A. Baker also spoke at the ceremony, describing the expansion as historic and praising the PSL for emerging as a powerful symbol of Pakistan’s sporting and economic resurgence. The successful franchise auction is being widely viewed as a game-changer for the Pakistan Super League and a significant boost for the country’s overall sports ecosystem.
With Hyderabad and Sialkot joining the fold, the PSL enters a new era, broader in reach, stronger in investment, and richer in opportunity reinforcing its position as one of the world’s leading T20 leagues.
