Steve Smith becomes PSL’s most expensive direct signing after joining Sialkot Stallions. First-ever auction held in Lahore.
Australian batting legend Steve Smith has made history by becoming the most expensive player in Pakistan Super League (PSL) history. The new franchise Sialkot Stallions signed him for PKR 14 crore (approximately USD 500,000) as a direct signing ahead of the revamped 11th edition of the tournament.
Smith, currently set to join Australia’s T20 World Cup 2026 squad as a replacement for the injured Mitchell Marsh, headlines a landmark auction that introduced major changes to the league.
PSL 2026 expands to 8 Teams & Introduces auction system
The Pakistan Cricket Board (PCB) has expanded the PSL from six to eight teams and replaced the decade-old draft system with a traditional players’ auction for the first time. The auction took place in Lahore on Wednesday.
Two new franchises – Sialkot Stallions and Hyderabad – were added after their rights were acquired by overseas Pakistani businessmen for PKR 185,000 crore and PKR 175,000 crore respectively. Meanwhile, Multan Sultans was sold and rebranded as Rawalpindi under new ownership.
Star Overseas Players find new homes
Several high-profile international stars were signed during the auction, including David Warner, Adam Zampa, Daryl Mitchell, Mark Chapman, Mustafizur Rahman, Devon Conway, Rilee Rossouw, Tabraiz Shamsi, Dasun Shanaka, Kusal Mendis, and Marnus Labuschagne.
A total of 103 players were signed across the eight franchises.
Naseem Shah tops Pakistani signings
Fast bowler Naseem Shah emerged as the most expensive Pakistani player, bought by Islamabad United for PKR 8.65 crore. All-rounder Faheem Ashraf also joined Islamabad United for PKR 8.5 crore.
Babar Azam & Saim Ayub retained by Peshawar Zalmi
Babar Azam was retained by Peshawar Zalmi for PKR 7 crore, while the franchise made the highest retention payment of PKR 12.2 crore for young batter Saim Ayub.
Afghan players withdraw from PSL auction
Afghanistan players, including Mujeeb Ur Rahman, Sediqullah Atal, Mohammad Nabi, Waqar Salamkheil, and Fazal Haq Farooqi, initially registered for the auction but later withdrew their names. This followed backlash after Peshawar Zalmi directly signed Afghanistan opener Rahmanullah Gurbaz.
PSL CEO Salman Naseer confirmed that some Afghan players were in the auction pool but no franchise selected them. He attributed the withdrawals to the strained relations between Pakistan and Afghanistan, noting that the criticism faced by Gurbaz’s inclusion prompted others to pull out to avoid controversy.
Tensions between the two nations have escalated since Pakistani airstrikes targeted militant hideouts in Afghanistan last year, leading to public anger from several Afghan cricketers on social media.
PSL 2026 schedule & IPL overlap
The 11th edition of the PSL is scheduled to run from March 26 to May 3, directly clashing with the Indian Premier League (IPL), setting up a fierce battle for global attention and player availability.
With Steve Smith’s record-breaking fee, new teams, and fresh auction drama, the Pakistan Super League 2026 promises to be its most competitive and talked-about season yet.
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