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Pakistan Super League (PSL) 2026 is a major structural change in the league's history. For the first time since its inception in 2016, the tournament has moved away from the traditional draft system, adopting a more interesting player auction model inspired by the Indian Premier League (IPL).

Expanding to eight teams, the league welcomes two new franchises and rebrands a veteran side, setting the stage for a marathon season from March 26 to May 3, 2026.

1. Key Changes & New Franchises

The Auction Transition: Mirroring the IPL, the PSL held its first-ever televised auction on February 11, 2026, in Lahore.

Two New Entrants: Joining the original six are the Hyderabad Houston Kingsmen and the Sialkot Stallionz, expanding the tournament's national and international footprint.

Rawalpindi Rebrand: The Multan Sultans have been rebranded as Rawalpindi under new ownership, officially ending Multan's tenure in the league.

2. Complete PSL 2026 Squads & Fees (In PKR)

Lahore Qalandars

Retained/Direct: Shaheen Afridi (7 Cr), Abdullah Shafique (2.2 Cr), Sikandar Raza (2.8 Cr), Mohammad Naeem (70 Lakh), Mustafizur Rahman (6.44 Cr).

Auction Buys: Fakhar Zaman (7.95 Cr), Haris Rauf (7.6 Cr), Usama Mir (3.5 Cr), Ubaid Shah (2.7 Cr), Haseebullah Khan (1.1 Cr), Gudakesh Motie (1.1 Cr), Dasun Shanaka (75 Lakh).

Rawalpindi (Formerly Multan Sultans)

Retained/Direct: Mohammad Rizwan (5.6 Cr), Sam Billings (3.08 Cr), Zaman Khan (1.12 Cr), Yasir Khan (60 Lakh).

Auction Buys: Naseem Shah (8.65 Cr - Highest Bid), Daryl Mitchell (8.05 Cr), Mohammad Amir (5.4 Cr), Rishad Hossain (3 Cr), Asif Afridi (2.4 Cr), Laurie Evans (1.1 Cr).

Karachi Kings

Retained/Direct: Hasan Ali (4.76 Cr), Abbas Afridi (3.08 Cr), Khushdil Shah (3.36 Cr), Saad Baig (60 Lakh), Moeen Ali (6.44 Cr).

Auction Buys: David Warner (7.9 Cr), Salman Ali Agha (5.85 Cr), Adam Zampa (4.5 Cr), Azam Khan (3.25 Cr), Mir Hamza (2.4 Cr), Johnson Charles (2 Cr).

Islamabad United

Retained/Direct: Shadab Khan (7 Cr), Salman Irshad (1.2 Cr), Andries Gous (1.4 Cr), Devon Conway (6.3 Cr).

Auction Buys: Faheem Ashraf (8.5 Cr), Mark Chapman (7 Cr), Mohammad Wasim Jr (4.1 Cr), Mehran Mumtaz (1.2 Cr), Imad Wasim (2.2 Cr), Haider Ali (1.5 Cr), Shamar Joseph (1.1 Cr).

Quetta Gladiators

Retained/Direct: Abrar Ahmed (7 Cr), Usman Tariq (5.6 Cr), Hasan Nawaz (3.92 Cr), Shamyl Hussain (84 Lakh), Spencer Johnson (Direct Signing).

Auction Buys: Khawaja Mohammad Nafay (6.5 Cr), Rilee Rossouw (5.55 Cr), Tom Curran (4.2 Cr), Jahandad Khan (2.5 Cr), Faisal Akram (1.25 Cr), Arafat Minhas (1.1 Cr).

Peshawar Zalmi

Retained/Direct: Babar Azam (7 Cr), Sufiyan Muqeem (4.4 Cr), Abdul Samad (2.8 Cr), Ali Raza (1.96 Cr), Aaron Hardie (Direct Signing).

Auction Buys: Michael Bracewell (4.2 Cr), Kusal Mendis (4.2 Cr), James Vince (3 Cr), Khurram Shahzad (2.7 Cr), Mohammad Haris (2.2 Cr), Aamir Jamal (1.9 Cr), Iftikhar Ahmed (1.8 Cr).

Sialkot Stallionz (New Team)

Retained/Direct: Steve Smith (14 Cr - Direct Signing), Mohammad Nawaz (6.16 Cr), Salman Mirza (3.92 Cr), Ahmed Daniyal (2.24 Cr), Saad Masood (84 Lakh).

Auction Buys: Sahibzada Farhan (5.7 Cr), Ashton Turner (4.2 Cr), Josh Philippe (2.3 Cr), Tabraiz Shamsi (2.2 Cr), Peter Siddle (2.5 Cr), Momin Qamar (1.075 Cr).

Hyderabad Houston Kingsmen (New Team)

Retained/Direct: Saim Ayub (12.6 Cr), Usman Khan (4.62 Cr), Maaz Sadaqat (3.5 Cr), Akif Javed (1.96 Cr), Marnus Labuschagne (Direct Signing).

Auction Buys: Riley Meredith (4.2 Cr), Kusal Perera (3.1 Cr), Muhammad Irfan Khan (2.9 Cr), Mohammad Ali (2.15 Cr), Hassan Khan (1.85 Cr), Ottniel Baartman (1.1 Cr).

3. Market Dynamics: Top Buys

The shift to an auction has seen player valuations skyrocket. Naseem Shah claimed the title of the most expensive auction buy at 8.65 Cr (Rawalpindi), closely followed by Faheem Ashraf at 8.5 Cr (Islamabad United). Among overseas stars, Daryl Mitchell led the pack with an 8.05 Cr paycheck from Rawalpindi.