The Pakistan Super League (PSL) franchise auction concluded in Islamabad for the inclusion of two new teams in the 11th edition of the tournament.
In a major development, the FKS Group has purchased the seventh PSL team, for a whopping Rs. 175 crore.
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Fawad Sarwar’s company won the auction with a bid of Rs 175 crore, securing ownership of the new PSL franchise.
The group has decided to base their new team in Hyderabad, marking the city’s entry into Pakistan’s premier T20 league.
The auction held at the Jinnah Convention Centre, with nine parties participated after Ali Tareen withdrew from the bidding process.
Previously, the Multan Sultans became the first team added to the PSL during its third season, increasing the league from five to six teams.
READ: How to watch PSL new franchises auction live
For this year’s historic 11th edition, two more teams have been introduced, bringing the total number of franchises to eight.
The 11th PSL is scheduled to take place from March 26 to May 3, promising another exciting season for cricket fans in Pakistan and around the world.
With seven teams already confirmed, nine qualified bidders competed with higher bids to secure the eighth and final franchise, completing the league’s expansion.
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For context, successful bidders were allowed to choose a home city from a PCB-approved list, which included Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad, and Gilgit.
