NEW DELHI: A real estate consortium and a US-based aviation and healthcare conglomerate secured the bids for two new Twenty20 franchises in the Pakistan Super League for a combined $12.75 million on Thursday.
OZ Developers picked Sialkot as its franchise after winning the auction for Rs 1.85 billion ($6.55 million).
Meanwhile, the US-based FKS Group opted for the Hyderabad franchise, sealing the deal for Rs 1.75 billion ($6.2 million).
The addition of these two sides will see the PSL expand to eight teams when the next season gets underway from March 26.
Multan Sultans will be operated by the Pakistan Cricket Board for the upcoming season and will be put up for sale after the PSL concludes in April.
Former owner Ali Tareen, who had previously parted ways with the league management, was eligible to bid for the new teams but withdrew at the final moment from a group 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 ahead of 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 PTI Inputs)
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