Pakistan Super League (PSL) completed its franchise auction on Thursday, adding two new teams to the tournament as FKS Group acquired the Hyderabad franchise for PKR 1.75 billion while OZ Developers bought the Sialkot franchise for a record PKR 1.85 billion.

 

The bidding process took place at Jinnah Convention Centre in Islamabad with 10 groups initially registered to participate. Ali Tareen Group withdrew just before the auction started, leaving nine groups to compete for the two franchises.

 

Fawad Sarwar of Kingsmen (FKS Group)

Fawad Sarwar, president of FKS Group, secured the seventh franchise for PKR 1.75 billion (approximately $6.25 million). The US-based businessman announced the team would carry the name of Hyderabad, with the full franchise name to be revealed later.

 

Sarwar was born and raised in Hyderabad, where he completed his early education before pursuing higher studies at leading international institutions. Although he currently resides in the United States, his emotional connection with Hyderabad remains strong.

 

"I always wanted Hyderabad to have representation in the PSL," Sarwar said, adding that acquiring a PSL team to carry the city's name had been a long-standing dream.

 

Sarwar is the founder and owner of Kingsmen Sports and Enterprises and owns the Chicago Kingsmen cricket team in the United States. A cricket enthusiast, he has remained actively involved in promoting the sport through business and investment.

 

As president of FKS Group, Sarwar oversees a diverse portfolio including FKS Aviation, ProCare Health and Kingsmen Enterprise. He also leads several investment firms, including Gilded Investments, Sand2Glass Investments and Minus2Degrees.

 

Sarwar described the acquisition as a personal milestone and a tribute to his hometown of Hyderabad.

 

OZ Developers 

Hamza Majeed Chaudhry, chairman of OZ Group, claimed the eighth franchise after OZ Developers won the bid for PKR 1.85 billion and named the team after Sialkot.

 

The franchise marks Sialkot's entry into Pakistan's premier T20 league. The team will represent the city, internationally known for its deep-rooted connection with cricket and sports manufacturing.

 

Chaudhry is an overseas Pakistani who previously lived in Australia before relocating to Pakistan a few years ago. He is widely regarded as a cricket enthusiast with a strong interest in promoting the game at both domestic and international levels.

 

Chaudhry has been involved in international cricket initiatives, including sponsorship of the World Championship of Legends (WCL) held in the United Kingdom.

 

Under Chaudhry's leadership, OZ Group has established a presence across multiple sectors. Its associated brands, including Wise Market, hold a notable position in the business landscape. The group's entry into PSL represents a significant move towards business expansion and a contribution to Pakistan's national sport.

 

The expansion strengthens the league's commercial value, improves regional representation and enhances global recognition. The two teams will join the competition in season 11 alongside the existing franchises: Karachi Kings, Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators, Islamabad United and Multan Sultans.