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ISLAMABAD: The Pakistan Super League (PSL) officially expanded on Thursday ahead of season 11 as Hyderabad and Sialkot were confirmed as the two new franchises following a high-stakes auction held at the Jinnah Convention Centre.
The two teams will make their debut in PSL season 11, joining the existing six franchises, Karachi Kings, Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators, Islamabad United and Multan Sultans.
The official names of the Hyderabad and Sialkot teams will be announced at a later stage.
The auction witnessed intense competition among qualified bidders, with aggressive offers reflecting the growing commercial value of the league.
The Hyderabad franchise was secured by the FKS Group, owned by Fawad Sarwar, after a successful bid of Rs 1.75 billion.
Later, OZ Developers, owned by Hamza Majeed, clinched the Sialkot franchise with a record-breaking bid of Rs1.85 billion, the highest figure of the auction.
As per PSL auction rules, successful bidders were given the option to choose their home cities from a PCB-approved list that included Faisalabad, Rawalpindi, Hyderabad, Sialkot, Muzaffarabad and Gilgit.
Hyderabad and Sialkot ultimately emerged as the preferred choices.
With the addition of two new teams, PSL 11 is set to be the biggest edition of the tournament to date. The upcoming season is scheduled to run from March 26 to May 3.
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