PSL Adds Two New Teams, Cost Less Than KKR’s IPL 2026 Mini-Auction Spend

The Pakistan Super League (PSL) entered a new phase of expansion on Thursday, officially growing from six to eight teams after the addition of two new franchises-Hyderabad and Sialkot. The Pakistan Cricket Board (PCB) conducted a high-profile auction in Islamabad, where the two teams were sold for a combined 366 crore PKR (around 117 crore INR).

Held at the Jinnah Convention Centre, the event saw attendance from PCB Chairman Mohsin Naqvi, federal ministers, senior officials, and several cricket personalities. Proceedings began with the introduction of the shortlisted bidders and cities, setting the stage for what the board described as a significant milestone for the league.

Mohsin Naqvi inaugurated the auction by ringing the ceremonial bell, while former Pakistan captain and legendary pacer Wasim Akram took charge as the auctioneer. The first round of bidding for the seventh franchise began at 110 crore PKR (35.2 crore INR). Two groups-FKS Group and I2C Group-engaged in an intense contest before FKS Group secured the team with a 175 crore PKR bid (about 56 crore INR), choosing Hyderabad as their home base.

The bidding for the eighth franchise started at a higher base price of 170 crore PKR (54 crore INR). OZ Developers outbid the competition and clinched the rights for what would become the Sialkot team, investing an estimated 59.2 crore INR. This also made Sialkot the most expensive franchise in PSL history.

Nowhere Near IPL- Light Years Behind

While the expansion signals growth and renewed commercial interest in PSL, the financial scale highlights a reality that is hard to ignore-the league is still nowhere close to matching the economic muscle of the Indian Premier League (IPL). Even after adding two franchises, the combined valuation of Hyderabad and Sialkot is still below what a single IPL team typically spends in a mega auction.

For instance, IPL 2025 saw each franchise operate with a budget of 120 crore INR-more than the combined price of the new PSL teams. To put it into further perspective, Kolkata Knight Riders entered the IPL 2026 mini-auction with 64.30 crore INR in hand. They eventually spent 63.80 crore INR to purchase just 13 players, an amount that individually surpasses the individual valuation of either of the new PSL teams.

During his address, Mohsin Naqvi congratulated the successful bidders and praised the organizational efforts behind the expansion. But despite the celebrations, the stark financial comparison with IPL underscores the economic gap that continues to define the two leagues.

The PSL may be growing, but the gulf in commercial power between it and the IPL remains wider than ever.