Interior Minister and Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi on Thursday unveiled the owners of the two newly auctioned HBL Pakistan Super League (PSL) franchises, announcing that the successful bidders are based in the United States and Australia.

Addressing a press conference following the bidding ceremony, alongside the US Chargé d’Affaires and the new franchise owners, Naqvi said that five companies from the United States had participated in the auction, calling it a sign of growing international confidence in Pakistan.

He described the bidding as a continuation of recent successful investment initiatives, adding that the process would generate Rs36 billion for the PCB. The funds, he said, would be utilised for the promotion and development of cricket in the country.

Naqvi announced that Fawad Sarwar, who migrated to the United States 26 years ago, had acquired one of the franchises, while Hamza Majid of OZ Developers, based in Australia, secured the other. He said the prime minister and the field marshal were pleased with the outcome of the bidding and expressed pride that substantial investment would now be directed towards sports development.

US Chargé d’Affaires Natalie Baker said she was pleased to attend the event as the American representative in Pakistan. She welcomed the participation of US companies, noting that their investment would help strengthen trade relations between Pakistan and the United States. She also congratulated Hamza Majid on acquiring a franchise.

Speaking on the occasion, Sarwar termed the acquisition the fulfilment of a childhood dream. He thanked his team and said the investment would contribute to strengthening ties between the two countries.

Meanwhile, Majid said cricket runs in their blood and highlighted the importance of Sialkot securing a team. He added that his group would aim to win HBL PSL 11.

Earlier, addressing the ceremony after the conclusion of the bidding, Naqvi described the day as a historic moment for the PSL. He said investor confidence in Pakistan was being restored and termed the successful auction a victory for cricket fans.

He congratulated the people of Hyderabad and Sialkot, as well as the new franchise owners, adding that the HBL PSL was more than just a tournament and was deeply linked with national emotions. He assured full PCB support for the next 10 years and pledged continued efforts to strengthen the league and cricket in Pakistan.