What happened
The first-ever Pakistan Super League (PSL) player auction concluded at Lahore’s Expo Centre on 11 February 2026, with all eight franchises finalising their squads for PSL 11 after a round of bidding that mixed local players with overseas names, ProPakistani reported.
The auction followed the PCB’s decision to move to a draft-and-auction model for the expanded 2026 competition, details of which had been set out in the weeks before the event. Franchises used retentions, direct signings and the open auction to build their line-ups.
The squads
According to the list published after the auction, Multan Sultans secured the biggest overseas name of the day, signing Australia’s Steve Smith as a direct signing at Rs14 crore. Pindiz paid Rs8.65 crore for Naseem Shah and Rs8.05 crore for New Zealand’s Daryl Mitchell, while Islamabad United brought in Faheem Ashraf for Rs8.50 crore.
Lahore Qalandars signed Fakhar Zaman for Rs7.95 crore and retained Shaheen Afridi, while Karachi Kings bought David Warner for Rs7.90 crore. Peshawar Zalmi, built around retained captain Babar Azam, added Australia’s Aaron Hardie as a direct signing, and Quetta Gladiators retained Abrar Ahmed and Usman Tariq.
Hyderabad Kingsmen and the other franchises completed their 18-to-20-player squads as the bidding closed, with the league’s overseas recruitment spanning Australia, New Zealand, England, Sri Lanka, Bangladesh, South Africa, West Indies, Nepal, the UAE and the United States.
Why it matters
The auction confirmed the make-up of the eight-team field for the 2026 season, which the league said would begin on 26 March and run until 3 May 2026. The expanded auction format marked a shift from the replacement-draft system used in earlier editions, giving franchises a single event at which to settle their combinations.
What is still uncertain
The report did not give a full breakdown of every winning bid, the amount each franchise spent against its salary cap, or the composition of the supporting coaching and support staff for the season.
Sources & reporting notes
This article summarises published reporting, not eyewitness coverage. Sources were reviewed on 11 February 2026.
- ProPakistani — "Here are the Complete PSL 11 Squads for 2026"11 February 2026 · Lists the confirmed squads, signings and prices by franchise, and the season dates.
- KhabarWire — "PCB sets February 11 for PSL 11 player auction"Context on the auction date and base-price brackets announced in January 2026.
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