With the completion of the previous 10-year agreements following the last PSL season, the PCB invited franchises to renew their contracts for the next decade. Quetta Gladiators, Karachi Kings, Lahore Qalandars, Peshawar Zalmi, and Islamabad United responded by renewing their agreements.
Multan Sultans, however, chose not to renew their contract. As a result, the franchise will remain under PCB ownership for the upcoming season, a development recently confirmed by PCB chairman Mohsin Naqvi.
In addition, the PCB has decided to expand the PSL by adding two new teams from the 2026 season. As part of this expansion, an auction for the new franchises was held on January 8 at the Jinnah Convention Centre in Pakistan.
At the auction, FKS acquired ownership of the seventh team for PKR 175 crore. The franchise will represent the city of Hyderabad and will pay a total of PKR 1,750 crore to the PCB over the next 10 years.
Strong competition was seen for the eighth franchise, with several companies expressing interest. OZ Developers eventually won the bidding, securing the team for PKR 185 crore.
The franchise will compete under the name of Sialkot and will pay PKR 1,850 crore to the PCB over the 10 years.
Overall, the PCB will earn a total of PKR 3,600 crore from the sale of the two new franchises over the next decade, marking a significant milestone in the commercial growth of the Pakistan Super League.
