Hyderabad, Sialkot join PSL as flagship league expands to eight teams
The Pakistan Super League (PSL) expanded to eight teams on Thursday as Hyderabad and Sialkot were officially confirmed as the league’s seventh and eighth franchises, respectively, following the completion of the expansion auction ahead of the upcoming season. The OZ Developers, owned by Hamza Majeed, secured the ownership of the eighth PSL team with a bid of Rs1.85 billion and named it after Sialkot in the second round of the highly anticipated auction. The base price for the eighth PSL team was set at Rs1.70 billion after the FKS Group acquired the ownership of the first franchise up for sale for Rs1.75 billion. In the first round, all nine qualified bidders competed fiercely, placing massive bids for the new team. The FKS group owned by Fawad Sarwar emerged as the winner by offering Rs1.75 billion, successfully leading the auction and taking the helm of one of the two new franchises. This marks the second major expansion in the league’s history. Previously, Multan Sultans becam...