Pakistan Super League Expands with New Franchises Ahead of 2024 Season

The Pakistan Super League (PSL) is expanding to include two new franchises, Sialkot and Hyderabad, bringing the total number of teams to eight for the upcoming season. The auction for these teams took place in January, with significant bids highlighting the growing interest in the league. The financial landscape of the PSL, however, remains considerably smaller compared to the Indian Premier League (IPL), where franchise values and player salaries are substantially higher. This article explores the details of the auction, the value of the new franchises, and the implications for the future of cricket in Pakistan.

By Narendra Chaudhary Jan 9, 2026, 12:39 IST

Expansion of the Pakistan Super League

The Pakistan Super League (PSL) is set to grow significantly with the introduction of two new franchises, bringing the total number of teams to eight for the upcoming season starting on March 26. The PSL committee held an auction for the new teams, Sialkot and Hyderabad, in Islamabad on January 9.

Previously, the PSL featured six teams: Islamabad United, Karachi Kings, Multan Sultans, Lahore Qalandars, Peshawar Zalmi, and Quetta Gladiators. The Pakistan Cricket Board (PCB) has confirmed that the league will expand to include eight teams in 2024, officially inviting applications for the new franchises.

Details of the Franchise Auction

During the auction, Sialkot and Hyderabad attracted competitive bids from various groups, with the PCB selecting the successful bidders after several rounds of bidding. The Hyderabad franchise was auctioned first, where FKS Group from the United States emerged as the highest bidder.

The US-based aviation company acquired the Hyderabad franchise for $6.2 million (around INR 56 crore). Following this, the Sialkot franchise was sold to OZ Developers for $6.5 million (approximately INR 59 crore), marking it as the eighth team in the PSL.

Value of New Franchises

The Sialkot franchise is now the most valuable team in the PSL, with its auction price of $6.5 million surpassing the franchise fees of some existing teams like Quetta Gladiators and Peshawar Zalmi. This expansion will likely lead to an increase in matches and new opportunities for players and fans.

Each new franchise was sold for amounts ranging from INR 56 crore to 59 crore, comparable to the salaries of top IPL players like Rishabh Pant and Shreyas Iyer, who earned INR 27 crore and INR 26.75 crore, respectively, in the last IPL season.

Comparative Financial Landscape

In 2021, the Indian Premier League (IPL) expanded to ten teams, with franchises sold for significantly higher amounts than those in the PSL. The Lucknow franchise was sold for INR 7090 crore ($940 million), while the Gujarat franchise fetched INR 5,625 crore (around $745 million).

In contrast, the combined sale of the two new PSL franchises totaled $12.75 million, highlighting a stark financial disparity between the two leagues despite the PSL's growing popularity.

IPL 2026 Auction Insights

At the IPL 2026 Auction, a total of INR 215.45 crore was spent on 77 players, with INR 118 crore allocated to the top nine players. Australian all-rounder Cameron Green was sold for INR 25.2 crore, making him the most expensive overseas player in IPL history.

The average spending per player in the IPL auction indicates that mid-tier players command more than the cost of an entire new PSL franchise, further emphasizing the financial gap between the two leagues.

Conclusion

While the PSL has successfully expanded by adding two new franchises, the financial scale of the league remains significantly smaller compared to the IPL. This disparity illustrates that even a single top IPL team holds a greater value than an entire new PSL franchise.