The Pakistan Super League (PSL) franchise Twenty20 cricket competition now contains eight teams, after two were inducted through an auction.
The league's seventh and eighth franchises will play in Hyderabad and Sialkot, respectively, after bidders representing those regions came out on top at an auction run by the Pakistan Cricket Board (PCB), with the valuations at a completely different and higher level than those of any of the other PSL teams.
These additions have come with the 2026 PSL - the 11th edition of the tournament - set to run between March 23 and May 6.
In total, nine bidders participated in the auction and contested the two slots, with six regions available as options.
The Hyderabad expansion franchise was selected by the FKS Group from the US, for a price of $6.25 million, in the first round of the auction.
The Sialkot team, meanwhile, has been bought up by the Australia-based real estate consortium OZ Group, led by Hamza Majeed, for $6.6 million.
FKS also runs the Chicago Kingsmen, a Minor League Cricket team in the US.
Outside the two expansion teams, the highest annual PSL franchise fee is the $2.39 million paid for the Lahore Qalanders.
These valuations still, however, put the two new PSL franchises far behind the value of new teams from other T20 leagues worldwide - multiple teams from the lucrative Indian Premier League, for example, were last valued (in 2025) at between $200 and $250 million.
All eight franchises from The Hundred in England and Wales, meanwhile, are valued in total at $80 million or above, after sales of stakes in those sides took place last year.
The PCB's chair, Mohsin Naqvi, commented: "The expansion of the Pakistan Super League with the addition of Hyderabad and Sialkot is a landmark moment for Pakistan cricket. We warmly welcome the new franchise owners and look forward to their contribution in strengthening the league, enhancing competition, and further elevating the PSL’s global stature.”
The PSL has been a six-team affair since its third edition in 2018. It started as a five-team league, with those five initial franchises bought up at an auction in December 2015.
Salman Naseer, chief executive at the PSL, added: "We are keenly looking forward to working closely with the new owners to deliver an even more compelling and competitive PSL experience for fans worldwide. The league is thriving, and we can't wait for the next few weeks to unfold as they promise to be even more exciting.”
Last season's PSL was won by the Lahore Qalanders, the team's third title.
At least one PSL team will be sold next year, with the PCB itself expected to run the Multan Sultans for the 2026 season before putting them back up for sale.
