When the Hyderabad franchise went under the hammer at the Pakistan Super League (PSL) teams auction, few expected the bidding to soar the way it did. Yet, by the end of an intense auction, it was FKS Group, led by Fawad Sarwar, that walked away victorious, securing the Hyderabad franchise for a staggering PKR 1.75 billion.
So naturally, one question has taken over conversations among fans and followers of the league.
Who exactly is Fawad Sarwar?
A High-Stakes Auction That Turned Heads
The Hyderabad franchise was the first team to be auctioned, with a base price of PKR 1.1 billion. That figure represents the annual fee payable to the PCB for the next ten years.
Things escalated quickly. FKS Group entered the bidding early, raising the price to PKR 1.4 billion, a jump far beyond the minimum required increment. From there, it turned into a gripping contest between FKS and fintech company i2c.
While i2c increased the bid cautiously, FKS responded with bold leaps. PKR 1.54 billion. Then 1.68 billion. Finally, PKR 1.75 billion, a figure that sealed the deal and underlined serious intent.
By the end of the auction, Hyderabad had its new owners, and the PSL had its seventh team. Sialkot will follow as the eighth franchise in PSL 11.
A Homecoming Story at Heart
For Fawad Sarwar, this was not just a business acquisition. It was personal.
Born and raised in Hyderabad, Sarwar completed his early education in the city before moving abroad for higher studies. Although he now resides in the United States, he has often spoken about his deep emotional bond with his hometown.
Speaking after the auction, Sarwar admitted the moment felt surreal.
“I still can’t believe we’re owners of a PSL team,” he said. “This is a childhood dream. We all started with street cricket and backyard games, practising in front of the mirror, trying to be the next big thing.”
That connection is also why the franchise will proudly carry the name Hyderabad, with the full team name to be announced later.
Who Is Fawad Sarwar Beyond Cricket?
Fawad Sarwar is a prominent businessman with a diverse global footprint.
Fawad Sarwar is the president of FKS Group, a US-based conglomerate with interests across aviation, healthcare, and sports. The group’s portfolio includes FKS Aviation, ProCare Health, and Kingsmen Enterprise.
Beyond that, Sarwar leads several investment ventures such as Gilded Investments, Sand2Glass Investments, and Minus2Degrees. His business approach blends strategic investment with long-term vision.
Cricket, however, has always remained close to his heart.
From the USA to the PSL
Sarwar is no stranger to cricket ownership. He is the founder and owner of Kingsmen Sports and Enterprises and also owns the Chicago Kingsmen, a professional cricket team in the United States.
Through these ventures, he has actively worked to promote cricket in non-traditional markets, combining commercial growth with grassroots development.
The Hyderabad franchise now becomes his most high-profile cricket investment, placing him firmly in Pakistan’s premier sporting league.
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