PSL 2026 Auction: The Pakistan Super League ushered in a historic transformation with its first-ever player auction ahead of the revamped eleventh edition.
The biggest headline belonged to seasoned Australian batter Steve Smith, who was signed for a staggering PKR 14 crore, making him the most expensive player in PSL history.
Smith was secured as a direct overseas signing by new franchise Sialkot Stallionz for approximately USD 500,000. The Australian veteran, who is set to replace the injured Mitchell Marsh in Australia's World T20 Cup squad, now becomes the marquee face of the expanded league.
PSL Expands to Eight Teams
The 2026 edition marks a structural shift for the tournament. The Pakistan Cricket Board introduced an auction system for the first time, replacing the draft format that had been in place for a decade.
The league has expanded from six to eight teams with the addition of Sialkot and Hyderabad Houston Kingsmen. Franchise rights for the two new teams were reportedly purchased by overseas Pakistani businessmen for PKR 185,000 crore (Sialkot) and PKR 175,000 crore (Hyderabad).
Meanwhile, Multan Sultans changed ownership and were rebranded as Rawalpindi.
A total of 103 players were signed during the auction held in Lahore.
Big Overseas Signings Dominate Headlines
Apart from Smith, several high-profile international cricketers were picked up during the auction, including:
| Player | Country | PSL 2026 Team | Price (PKR) | Signing Type |
|---|---|---|---|---|
| David Warner | Australia | Karachi Kings | 7.90 crore | Auction |
| Adam Zampa | Australia | Karachi Kings | 4.50 crore | Auction |
| Daryl Mitchell | New Zealand | Rawalpindi | 8.00 crore | Auction |
| Mark Chapman | New Zealand | Islamabad United | 7.00 crore | Auction |
| Mustafizur Rahman | Bangladesh | Lahore Qalandars | 6.44 crore | Direct Signing |
| Devon Conway | New Zealand | Islamabad United | 6.30 crore | Direct Signing |
| Rilee Rossouw | South Africa | Quetta Gladiators | 5.55 crore | Auction |
| Tabraiz Shamsi | South Africa | Sialkot Stallionz | 2.20 crore | Auction |
| Dasun Shanaka | Sri Lanka | Lahore Qalandars | 0.75 crore | Auction |
| Kusal Mendis | Sri Lanka | Peshawar Zalmi | 4.20 crore | Auction |
| Marnus Labuschagne | Australia | Hyderabad Houston Kingsmen | 5.88 crore | Direct Signing |
The aggressive spending underlines PSL's intent to maintain global competitiveness despite clashing directly with the Indian Premier League this season.
Naseem Shah Most Expensive Pakistani Buy
Fast bowler Naseem Shah emerged as the most expensive Pakistani signing after being bought for PKR 8.65 crore by Islamabad United.
Islamabad further strengthened their squad by signing all-rounder Faheem Ashraf for PKR 8.5 crore, making them one of the biggest spenders at the auction.
Major Retentions Before the Auction
While the auction created headlines, several franchises retained key stars:
Babar Azam was retained by Peshawar Zalmi for PKR 7 crore.
The most expensive retention was Saim Ayub, retained for PKR 12.2 crore.
These retentions ensured continuity while allowing teams to rebuild strategically through the auction.
PSL 2026 Schedule and IPL Clash
The PSL 2026 season is scheduled to run from March 26 to May 3, directly clashing with the Indian Premier League 2026. Despite the scheduling overlap, the league's expansion, record-breaking signings and revamped structure suggest strong commercial confidence.
With Steve Smith setting a new benchmark at PKR 14 crore, and franchises investing heavily in pace bowlers, all-rounders and global stars, the tournament has positioned itself for its most competitive season yet. The real test now lies on the field as these high-profile signings attempt to justify their price tags under pressure.
