Fawad Sarwar, owner of Hyderabad Kingsmen, has claimed that the Pakistan Super League (PSL) franchise is already worth around $190 million, nearly three times the amount paid to acquire the team earlier this year.
Speaking during a recent YouTube interview, Sarwar said a reputable valuation firm assessed the franchise during PSL 11, its debut season, and found that its value had already tripled before the campaign had even concluded.
“Our Hyderabad franchise hasn’t even completed its first season yet, and a very reputable valuation firm has already told us that our valuation has tripled,” Sarwar said.
FKS Group, a US-based aviation and healthcare conglomerate, acquired Hyderabad Kingsmen on January 8, 2026, for Rs. 175 crore during the PSL’s two-team expansion auction.
Sarwar also highlighted the financial imbalance between the newer, higher-priced franchises and the original six PSL teams. Ahead of the 2026–2035 cycle, the Pakistan Cricket Board (PCB) reset the annual franchise fees of the existing teams through an Ernst and Young valuation.
Under the revised assessment, Lahore Qalandars were valued as the most expensive existing PSL franchise at approximately Rs. 98 crore per year, or around $3.47 million. Peshawar Zalmi were valued at approximately Rs. 87 crore, or around $3.1 million, up from Rs. 27 crore in 2016.
Karachi Kings came in at just under Rs. 80 crore, while Multan Sultans were the only franchise to record depreciation, with their valuation set at approximately Rs. 85 crore against an original entry price of Rs. 110 crore.
According to Sarwar, the cost gap created problems in the sponsorship market this season, as lower-cost franchises were able to approach brands with significantly cheaper commercial offers.
“If a sponsor is willing to give us Rs. 40 crore, another cheaper franchise can go and say, ‘Give us Rs. 4 crore instead and we’ll do it for you,’” he said.
He added that profitability should not be judged only through immediate returns, arguing that long-term value creation is equally important.
“Profitability is also about value creation. Money attracts money. There’s a mindset and a method behind building an asset,” Sarwar said.
Sarwar said he is already in talks with major North American banks and credit card companies for potential sponsorship deals ahead of next season.
He also pointed to the franchise’s reach in the United States as a major factor behind its rising valuation, claiming that Hyderabad Kingsmen have reportedly reached more than 177 million users in the US alone.
He further revealed that a major streaming platform is producing a documentary on the franchise throughout the season, which he expects to attract tens or even hundreds of millions of viewers worldwide.
Sarwar also expressed confidence that the PSL’s financial structure will eventually become more balanced, adding that profitability for newer franchises could arrive soon once all teams move toward a more equal footing.
Hyderabad Kingsmen reached the PSL 11 final despite losing their first four matches of the season. The franchise recovered strongly to qualify for the playoffs, where they were defeated by Peshawar Zalmi by five wickets.
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