PSL Auction 2026 Live Updates: Pakistan Super League Witness First-Ever Auction

The Pakistan Super League (PSL) is set to enter a new era in 2026, with the tournament introducing a major structural change by replacing its long-standing player draft with a full-scale auction system.

The move aligns the PSL with other leading T20 leagues globally, particularly the Indian Premier League (IPL), where competitive bidding plays a central role in team building. The transition is expected to add greater excitement, financial strategy, and transparency to the squad selection process.

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For the 2026 season, each franchise began the auction with a base purse of PKR 45 crore, roughly equivalent to USD 1.6 million or INR 14.60 crore. The financial framework also offers teams additional flexibility,

allowing them to extend their spending limit up to PKR 50.5 crore if they opt to sign one overseas player who did not feature in the previous PSL edition. This rule has been designed to encourage franchises to bring fresh international talent into the league while strengthening their squads with long-term investments.

In another significant step aimed at promoting continuity and stability, players bought during the auction have been handed two-year contracts. The longer deal duration is expected to help franchises focus on long-term planning, build stronger team combinations, and foster better player-franchise relationships, which have often been limited by short-term contracts in previous seasons.

The 2026 edition will also mark a historic expansion of the tournament. Alongside the six existing franchises - Islamabad United, Karachi Kings, Lahore Qalandars, Multan Sultans, Peshawar Zalmi, and Quetta Gladiators - two new teams from Hyderabad and Sialkot will join the competition. The expansion to eight teams is likely to increase the league's competitiveness, create more opportunities for domestic players, and broaden the PSL's commercial and fan engagement reach.

PSL 2026 is scheduled to commence on March 26 and will run until May 3, promising an extended window of high-intensity cricket action. With the introduction of the auction format, expanded team roster, and new financial dynamics, the upcoming season is shaping up to be one of the most anticipated editions in PSL history. The changes signal the league's ambition to strengthen its global standing and deliver a more dynamic and competitive T20 tournament for fans worldwide.