Islamabad, January 9, 2026 – Prime Minister Muhammad Shehbaz Sharif has welcomed the successful auction of two new Pakistan Super League (PSL) franchises, emphasizing that the participation of international firms signals growing confidence in Pakistan’s economy and will promote foreign investment.
Transparent Auction Draws Global Interest
The auction for the new teams in Sialkot and Hyderabad was conducted transparently, with the entire process broadcast live on television – a first for any cricket league franchise sale.
PCB Chairman Mohsin Naqvi, who also serves as Interior Minister, oversaw the event, congratulating the board for attracting bids from both national and international entities. The Prime Minister praised the transparency, stating it reflected the PSL’s rising global popularity.
Bidders included prominent companies from the US, Australia, and Pakistan, with five US-based firms participating, highlighting renewed investor trust following recent economic reforms.
New Franchises Owned by Diaspora Entrepreneurs
The Sialkot franchise was secured by Australia-based OZ Developers, led by Hamza Majeed, for a record Rs1.85 billion per annum. The Hyderabad team went to US-based FKS Group, represented by Fawad Sarwar – a Pakistani entrepreneur who migrated to the US 26 years ago – for Rs1.75 billion.
The combined bids generated Rs3.6 billion annually for Pakistan cricket. PM Sharif congratulated the new owners and PCB, noting that overseas Pakistanis are playing a vital role in national development.
He described the new teams as a “breath of fresh air” for the league, which now expands to eight franchises. The US Chargé d’Affaires attended the auction, underscoring strengthened bilateral trade ties through such investments.