Thursday marked a turning point in the HBL Pakistan Super League’s journey, as a record-setting auction saw two new franchises sold for a total of Rs3.6 billion, paving the way for the league’s expansion to eight teams from its 11th edition.

The high-profile auction, held at the Jinnah Convention Centre, has officially expanded the PSL from six to eight teams and was attended by prominent figures from Pakistan cricket and government, including PCB Chairman Mohsin Naqvi, federal ministers, senior officials, former cricketers, and representatives of bidding companies. The event formally commenced when Mohsin Naqvi rang the ceremonial bell, while legendary former captain Wasim Akram conducted the auction proceedings.

At the beginning of the event, nine bidding groups were introduced, competing for franchises representing six shortlisted cities. The Pakistan Cricket Board set the starting price at Rs110 crore, with each new bid required to increase by at least Rs1 crore. The bidding pool was slightly reduced after Ali Tareen, the former owner of Multan Sultans, withdrew shortly before the auction began.

The bidding for the seventh PSL team proved intense. i2c initially pushed the price up to Rs155 crore, while Prism chose not to continue after a brief pause. FKS then entered aggressively, eventually surpassing i2c with a final bid of Rs175 crore. After securing the franchise, FKS confirmed Hyderabad as the team’s home city.

The auction then moved to the eighth franchise, offered with a base price of Rs1.7 billion, where a tense three-way contest unfolded between USA-based Aim Next Inc., i2c and OZ Developers, pushing bids steadily higher in prescribed increments. After several time-outs and sharp increases, OZ Developers made a decisive move with an offer of Rs185 crore — the highest amount ever paid for a PSL franchise.

OZ Developers’ representative Hamza Majeed later confirmed that the team would represent Sialkot, marking the city’s historic entry into the PSL as the league’s most valuable franchise to date. OZ Developers' Hamza Majid said the decision to push past budget was deliberate, adding: "We came here to win. Cricket runs in our blood, and Sialkot now has a team to match its rich cricketing history."

Under the auction framework, franchises were sold on 10-year agreements, with annual fees matching their winning bids, while the PCB said the process would generate an estimated Rs36 billion for the board over the contract period.

PCB Chairman Mohsin Naqvi, speaking after the auction concluded "This is not just expansion, it is a vote of confidence in Pakistan cricket. The HBL PSL is growing stronger, and today's outcome will benefit the game for years."

The 11th edition of the HBL Pakistan Super League is scheduled to run from 26 March to 3 May 2026. With Hyderabad and Sialkot officially joining the competition, the PSL will feature eight teams for the first time in its history — a major step forward for Pakistan’s premier T20 league and a clear sign of its growing commercial and sporting strength.

Credit: Independent News Pakistan (INP)