The Pakistan Super League (PSL) is about to enter a new era. For the first time since its launch in 2016, the PSL will ditch the draft system and move to a full-fledged player auction. With two new teams added and several franchises resetting their cores, PSL 11 promises to look very different from what fans are used to.
The change comes ahead of a landmark season. PSL 2026 will feature eight teams, with Hyderabad and Sialkot joining the competition, and will run from March 26 to May 3. To accommodate the expanded field and create a more level playing field for franchises, the Pakistan Cricket Board (PCB) has overhauled the squad-building process.
When is the PSL 2026 player auction and how will it work?
The first-ever PSL player auction will take place on February 11. The rules were finalised at a PCB workshop in Lahore attended by PCB chairman Mohsin Naqvi, PSL CEO Salman Naseer and representatives from all eight franchises.
Each franchise has an auction purse of PKR 45 crore (approximately USD 1.6 million or INR 14.60 crore), which can be extended to PKR 50.5 crore if they directly sign one overseas player who did not feature in PSL last season. Every player signed at the auction will be on a two-year contract.
PSL 2026 Player Base Price
| Category | Base Price (PKR) | Approx. Base Price (INR) | Min. Bid Increment (PKR) | Approx. Increment (INR) |
|---|---|---|---|---|
| Platinum | 4.2 Crore | 1.37 Crore | 15 Lakh | 4.88 Lakh |
| Diamond | 2.2 Crore | 71.50 Lakh | 10 Lakh | 3.25 Lakh |
| Gold | 1.1 Crore | 35.75 Lakh | 5 Lakh | 1.63 Lakh |
| Silver | 0.6 Crore | 19.50 Lakh | 2.5 Lakh | 8,125 |
Unpicked players from the auction pool will then be available to the two new franchises, Hyderabad and Sialkot, who can each sign up to four such players.
PSL 2026 franchise valuations (Annual Fee)
| Team | Annual Fee (PKR) | Annual Fee (INR Approx.) | Owner |
|---|---|---|---|
| Rawalpindi (formerly Multan Sultans) | 2.45 Billion | ₹79.63 Crore | Walee Technologies |
| Sialkot Stallionz (New) | 1.85 Billion | ₹60.13 Crore | OZ Developers |
| Hyderabad Kingsmen (New) | 1.75 Billion | ₹56.88 Crore | FKS Group |
| Lahore Qalandars | 670 Million | ₹21.78 Crore | Qatar Lubricants Co. |
| Karachi Kings | 640 Million | ₹20.80 Crore | ARY Group |
| Peshawar Zalmi | 490 Million | ₹15.93 Crore | Haier Pakistan |
| Islamabad United | 480 Million | ₹15.60 Crore | Leonine Global |
| Quetta Gladiators | 340 Million | ₹11.05 Crore | Omar Associates |
Squad rules, overseas limits and U23 requirement
Each team must build a squad of 16 to 20 players, with five to seven overseas players allowed. In the playing XI, franchises must field at least three and no more than four overseas players per match.
A key addition is the youth rule. Teams must have at least two uncapped under-23 players in their squad, with one under-23 player mandatory in every playing XI. Looking ahead, retention rules will tighten further. After PSL 11, teams can retain up to seven players. Following PSL 12 in 2027, a grand auction will be held, where only five players can be retained.
Retained players ahead of the PSL 2026 auction
Five franchises have already locked in their core players. Multan Sultans are the only team not to retain a single player. Hyderabad and Sialkot have retained players as well.
PSL 2026 Official Player Retentions & Pre-Auction Signings
| Team | Retained Players | Direct Overseas Signing |
|---|---|---|
| Lahore Qalandars | Shaheen Shah Afridi (Platinum), Abdullah Shafique (Diamond), Sikandar Raza (Gold), Mohammad Naeem (Silver) | Mustafizur Rahman |
| Peshawar Zalmi | Babar Azam (Platinum), Sufiyan Muqeem (Diamond), Abdul Samad (Gold), Ali Raza (Emerging) | Withdrawn (Rahmanullah Gurbaz) |
| Karachi Kings | Hasan Ali (Platinum), Abbas Afridi (Diamond), Khushdil Shah (Gold), Saad Baig (Emerging) | Moeen Ali |
| Quetta Gladiators | Abrar Ahmed (Platinum), Usman Tariq (Diamond), Hasan Nawaz (Gold), Shamyl Hussain (Emerging) | Spencer Johnson |
| Islamabad United | Shadab Khan (Platinum), Salman Irshad (Gold), Andries Gous (Silver) | Devon Conway |
| Sialkot Stallionz | Mohammad Nawaz (Platinum), Salman Mirza (Diamond), Ahmed Daniyal (Gold), Saad Masood (Emerging) | Steve Smith |
| Hyderabad Kingsmen | Saim Ayub (Platinum), Usman Khan (Diamond), Akif Javed (Gold), Maaz Sadaqat (Emerging) | Marnus Labuschagne |
| Rawalpindi | None (Full squad released) | TBD |
Off the field, the league has also seen major movement. Multan Sultans were sold for a record annual fee of PKR 2.45 billion to Walee Technologies, the highest franchise valuation in PSL history. The new owners have announced that the team will be rebranded and relocated to Rawalpindi, ending Multan’s nine-year association with the league.
With marquee direct signings already confirmed, including Steve Smith for Sialkot, Moeen Ali for Karachi Kings and Devon Conway for Islamabad United, attention now turns fully to February 11.
Remaining Purse for PSL 2026 Auction
| Franchise | Remaining Purse (PKR) |
|---|---|
| Hyderabad Houston Kingsmen | 50.5 Crore |
| Rawalpindi (Multan) | 50.5 Crore |
| Sialkot Stallionz | 45.0 Crore |
| Islamabad United | 40.9 Crore |
| Karachi Kings | 38.7 Crore |
| Lahore Qalandars | 37.8 Crore |
| Peshawar Zalmi | 34.26 Crore |
| Quetta Gladiators | 33.14 Crore |
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