ISLAMABAD: Hyderabad and Sialkot will join the eleventh edition of the Pakistan Super League (PSL) as its latest franchises after they were bought for record prices at an auction organized by the Pakistan Cricket Board (PCB) on Thursday.
The PCB had shortlisted 10 bidders for the live auction held at Islamabad’s Jinnah Convention Center on Thursday evening. FKS, an aviation and health care conglomerate based in the US who also run the Chicago Kingsmen team, bought the Hyderabad franchise for a whopping Rs1.75 billion [$6.2 million].
The other winner was OZ Developers, a real estate consortium, which bought the Sialkot franchise for Rs1.85 billion [$6.55 million] at the auction. Both prices were the highest amount paid for a PSL franchise.
“The New Era is here like never before,” the PCB wrote on social media platform X.
“Hyderabad and Sialkot are the two new teams in #HBLPSL!“
