FKS Group wins seventh PSL franchise for Rs1.75 billion

ISLAMABAD: The Pakistan Super League took a major step towards expansion on Thursday after FKS Group won the rights to the league’s seventh franchise with a winning bid of Rs1.75 billion at an auction held in Islamabad.

The auction, organised by the Pakistan Cricket Board (PCB), was part of the league’s planned expansion from six to eight teams ahead of the 11th edition of the PSL, scheduled to be held in 2026. The addition of two new teams aims to broaden the league’s commercial footprint and increase its national reach.

FKS Group, a Southeast Asia–based holding company with core interests in food and agriculture, logistics, and property development, emerged successful after a competitive bidding process involving several major corporate entities. The group has a strong presence in Indonesia and has recently expanded into sports investment, with the PSL franchise marking its first major venture into cricket.

The bidding process featured nine franchises that had qualified after a technical and financial evaluation by the PCB. These are FKS Group; Jazz; i2c; Inverex Solar Energy; Aim Next Inc; OZ Developers’ Prism Developers; VGO TEL and Walee Technologies.

The PCB said the strong interest and the final price reflected the growing commercial value of the PSL, which has established itself as one of the leading T20 leagues in the world since its launch in 2016.

Notably, Ali Khan Tareen, the former owner of Multan Sultans, did not take part in the bidding. Tareen had earlier parted ways with the franchise following a prolonged dispute with the PCB over ownership and contractual matters. Although he was expected by some to bid for one of the new teams, sources confirmed that he withdrew from the process before the auction.

With the seventh franchise now awarded, the PCB will move ahead with the sale of the eighth and final team, completing the league’s expansion. Successful bidders will also be allowed to select their home city from a list of PCB-approved venues, a decision that will play a key role in shaping regional fan engagement and commercial strategy.

The PSL’s expansion comes at a time when Pakistan cricket is seeking to strengthen its domestic structure and attract greater private investment, with the PCB hopeful that the enlarged league will further enhance the tournament’s global profile.

Wasim Akram, the legendary former Pakistan fast bowler, has been picked as the ambassador for the 11th edition of the PSL. Known as the “Sultan of Swing,” Wasim Akram’s association with PSL adds immense prestige and excitement to the tournament. His vast experience, iconic status in world cricket, and deep connection with Pakistani fans make him an ideal choice to represent the league. As ambassador, he is expected to promote the spirit of the PSL, inspire young cricketers, and further enhance the league’s global profile ahead of another thrilling season.