The Pakistan Super League (PSL) has crossed another historic milestone with the addition of two new teams in season 11 of the league, taking the total number of teams to eight. The successful auction of the Hyderabad and Sialkot franchises was completed during a grand ceremony held in Islamabad, which experts are calling a strong development for the commercial future of Pakistani cricket.
The Hyderabad franchise was acquired by the FKS group of American-Pakistani businessman Fawad Sarwar for Rs 175 crore, while the Sialkot team was purchased by the Australian-Pakistani Hamza Majeed’s company OZ Developers for Rs 185 crore. Both the teams will be playing for the first time in PSL season 11.
At the ceremony, PSL brand ambassador Wasim Akram started the bidding with Rs 110 crore, after which a fierce competition was witnessed among the investors. The base prize for the eighth team was set at Rs 170 crore, which was sold at a higher price than expected.
PCB Chairman Mohsin Naqvi, while addressing the gathering, said that the expansion of PSL is not only good for cricket but also for Pakistan’s sports industry. He said that including historical cities like Hyderabad and Sialkot in the league will bring a new passion for the fans.
According to PSL Chief Executive Salman Naseer, PSL has strengthened its reputation despite several global challenges and is now considered one of the leading T20 leagues in the world.
PSL Season 11 will begin on March 26, with eight teams competing for the title for the first time. Cricket fans are already calling the expansion the beginning of a new era for the league.