Two new franchises were added to the Pakistan Super League (PSL) as OZ Developers put forward a massive Rs1.85bn bid to win Sialkot, moments after the FKS Group secured Hyderabad for Rs1.75bn at the league\u2019s auction on Thursday.<\/p>\n
OZ Developers were in a bidding war with software company i2c as they went head-to-head in the second round of the auction taking place at the Jinnah Convention Centre in Islamabad.<\/p>\n
I2c\u2019s final bid was Rs1.82bn before OZ Developers upped the ante and ended the night at Rs1.85bn, the highest ever bid for a PSL franchise.<\/p>\n
The first round of the auction was won by FKS, which was also in a bidding war with i2c, whose final bid was Rs1.7bn.<\/p>\n
The base price for the first franchise \u2014 the seventh team being added to PSL \u2014 was set at Rs1.1bn, while the base price for the eighth team was Rs1.7bn.<\/p>\n
This will be Hyderabad and Sialkot\u2019s first appearance since the league\u2019s inception in 2015, with this year\u2019s league set for March 26-May 3.<\/p>\n
The cities up for potential franchise allocation included Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi and Sialkot.<\/p>\n
The current PSL teams include Lahore Qalandars, Islamabad United, Peshawar Zalmi, Quetta Gladiators, Karachi Kings and Multan Sultans.<\/p>\n
Bidders for the two new teams were FKS, OZ Developers, Aim Next inc, Deharki Sugar Mills, Inverex Solar, i2c, Jazz, Prism Developers, VGO TEL, and Walee Pakistan.<\/p>\n
Commentator and former Pakistan cricket team captain Wasim Akram hosted the auction as PSL CEO Salman Naseer joined him on stage.<\/p>\n
\u201cTen years of PSL have lead us to this moment,\u201d Naseer said at the start of the auction.<\/p>\n
Akram coaxed the bidders by reminding them that winning a bid was more than just ownership; it was the ability to design new logos, kits, interact with players and much more.<\/p>\n
Ahead of the bidding process, Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi awarded a cash prize of Rs 90 million to the team that won the Rising Star Asia Cup.<\/p>\n
The team that won the Hong Kong Sixes title was also awarded a cash prize of Rs 18.5m.<\/p>\n","protected":false},"excerpt":{"rendered":"
Two new franchises were added to the Pakistan Super League (PSL) as OZ Developers put forward a massive Rs1.85bn bid to win Sialkot, moments after the FKS Group secured Hyderabad for Rs1.75bn at the league\u2019s auction on Thursday. OZ Developers were in a bidding war with software company i2c as they went head-to-head in the […]<\/p>\n","protected":false},"author":1,"featured_media":15015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-15014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sports-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15014"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15014\/revisions"}],"predecessor-version":[{"id":15016,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/15014\/revisions\/15016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/15015"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}