In PSL 2026 (Pakistan Super League Season 11), the league has expanded from 6 to 8 teams, marking a new era in Pakistan cricket. The teams include Islamabad United, Karachi Kings, Lahore Qalandars, Peshawar Zalmi, Quetta Gladiators, Multan Sultans, along with two newly added franchises: Hyderabad Kingsmen and a Rawalpindi-based franchise (after restructuring). This expansion was introduced by the Pakistan Cricket Board (PCB) to increase competition and commercial growth of the league.
Regarding team owners and franchise details, each PSL team is owned by major business groups or individuals. Islamabad United is owned by Ali Naqvi & Amna Naqvi (Leonine Global Sports), while Karachi Kings belongs to Salman Iqbal (ARY Group). Lahore Qalandars is owned by the Rana Brothers, and Peshawar Zalmi is owned by Javed Afridi (Haier Pakistan). Quetta Gladiators is owned by Nadeem Omar (Omar Associates). In 2026, major changes occurred as Multan Sultans ownership shifted and was later restructured, and new franchises were introduced—Hyderabad Kingsmen (owned by FKS Group) and another franchise linked with Walee Technologies in Rawalpindi. These franchise owners play a key role in team management, sponsorship, and overall league development.