The inaugural HBL PSL Player Auction took place yesterday, February 11, 2026, in Lahore. It was a landmark event that officially replaced the decade-old draft system.
Here are the 5 most important things to know about the auction:
1. Naseem Shah and Faheem Ashraf Broke Records
The auction saw local stars fetching massive prices. Naseem Shah emerged as the most expensive player in the auction, with the rebranded Rawalpindi franchise (formerly Multan Sultans) securing him for PKR 8.65 crore. Faheem Ashraf followed closely, going to Islamabad United for PKR 8.5 crore after an intense bidding war.
2. Steve Smith is the Highest-Paid Overall
While Naseem topped the auction bids, Steve Smith became the highest-paid player in PSL history overall. He was signed directly by the new franchise Sialkot Stallionz for a record PKR 14 crore (approx. $500,000) before the auction even began. This was made possible by a new rule allowing one “Direct Signing” of an overseas player who did not play in the 2025 season.
3. Expansion to Eight Teams
The league has grown from six to eight franchises. The two new teams made their debut at the auction table:
• Sialkot Stallionz: Focused on experience, landing Steve Smith and Sahibzada Farhan.
• Hyderabad Houston Kingsmen: Owned by FKS Group, they secured Marnus Labuschagne as their direct signing and drafted young star Saim Ayub.
4. Top Overseas Auction Buys
New Zealand’s Daryl Mitchell was the most expensive foreign player sold at the auction, joining Rawalpindi for PKR 8.05 crore. Other major international signings included David Warner (Karachi Kings for PKR 7.9 crore) and Mark Chapman (Islamabad United for PKR 7 crore).
5. Strict New Retention Rules
To ensure the auction had enough “star power,” the PCB introduced much stricter retention rules. Unlike previous years where teams could keep up to eight players, franchises were only allowed to retain four players, with a limit of one player per category. This forced many big names into the auction pool, leading to the “New Era” of reshuffled squads.
Are you excited for the PSL season and all the drama, sixes, and last-over thrillers it’s about to bring? let us know!
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