So many crores spent on 2 teams in PSL team auction, bumper bid on Hyderabad team

PSL Two New Teams Name With Price: Pakistan Super League has got 2 new teams. These two teams will be named Hyderabad and Sialkot. On January 8, the Pakistan Cricket Board had conducted an auction for two new franchises at the Jinnah Convention Center in Islamabad. A total of 360 crore Pakistani rupees have been spent on both the teams.

FKS, a US-based aviation and health sector company, has purchased the Hyderabad franchise by spending 175 crore Pakistani rupees (6.2 million US dollars). A real estate firm, OZ Developers, bought the Sialkot franchise by bidding Rs 185 crore (Pakistan Rupees 6.55 million).

The auction started with a base price of Pakistani rupees 110 crore. This is the amount that each franchise has to pay to the PCB annually. 9 groups had bid in this auction. Before the auction, Ali Tareen, who was the owner of Multan Sultan, had told through social media that he was withdrawing his name from the auction.

OZ developers faced tough competition from I2C. Finally, Hamza Majeed, CEO of OZ Developers, bought the Sialkot franchise by bidding Rs 185 crore. With this, Sialkot has become the most expensive franchise in Pakistan Super League history.

The 2 most successful bidders had to choose the name of their franchise from Rawalpindi, Hyderabad, Faisalabad, Gilgit, Sialkot and Muzaffarabad.

Mohsin Naqvi’s big announcement

Before the start of the auction process, PCB Chairman Mohsin Naqvi had made a big announcement. He had announced a prize money of PKR 9 crore for the Pakistan team that won the Rising Stars Asia Cup tournament. Apart from this, he also announced a prize money of Rs 1.8 crore for the Pakistan team which won the Hong Kong Six Tournament.

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