PSL 2026: OZ Developers, US-based FKS win new teams for $12.75 million
FKS Group, from the United States, chose the name Hyderabad after winning the bid for 1.75 billion Pakistani rupees ($6.2 million).
 "PSL 2026: OZ Developers, US-based FKS win new teams for $12.75 million")
A real estate consortium and a US-based aviation and healthcare conglomerate won the bids for two new Twenty20 franchises in the Pakistan Super League (PSL) for a combined $12.75 million on Thursday.
OZ Developers named Sialkot as its new franchise after securing the bid for 1.85 billion Pakistani rupees ($6.55 million).
FKS Group, from the United States, chose the name Hyderabad after winning the bid for 1.75 billion Pakistani rupees ($6.2 million).
The additions will expand the PSL to eight teams when the season begins on March 26.
Multan Sultans will be run by the Pakistan Cricket Board (PCB) this year before the franchise goes up for sale after the PSL ends in April.
Multan’s former owner Ali Tareen, who developed differences with the PSL management, was eligible to bid for the two new teams but pulled out at the last minute from a pool of 10 approved bidders at Thursday’s auction.
“If I come back to PSL, it has to be for the same reason,” Tareen wrote on X before the auction. “South Punjab is where my heart is. It is home. When the Multan team is being sold, we'll be ready. Wishing all the bidders the best.” (With inputs from agencies)