The Pakistan Cricket Board (PCB) has officially announced that the HBL PSL Player Auction System will take place on Wednesday, February 11, 2026, ushering in a new era for the league. For the first time in PSL history, the traditional draft system has been replaced with a transparent, market-driven auction model, designed to modernize player recruitment, enhance competitiveness, and provide improved financial opportunities for cricketers.
This landmark decision comes ahead of the league’s 11th edition, which will feature expanded franchises, additional host cities, and a focus on developing young talent.
Also Read: PSL Player Auction Model Replaces Draft System, Marking a New Era in the League
Stakeholder Workshop Finalises Key Decisions
The auction framework was finalized during a comprehensive stakeholder workshop held at Gaddafi Stadium, Lahore. The session was presided over by PCB Chairman Mohsin Naqvi and HBL PSL CEO Salman Naseer, and attended by representatives from all eight franchises, PCB officials, members of Pakistan’s T20 World Cup squad, and several capped players. High-profile stars such as Babar Azam, Fakhar Zaman, Hasan Ali, and Shaheen Shah Afridi were also present, highlighting the importance of player involvement in shaping the new system.
During the workshop, the HBL PSL management delivered a detailed presentation explaining the retention framework, auction mechanics, bidding process, and squad regulations. All stakeholders actively participated in discussions, and the feedback received will be incorporated into the final auction execution.
Auction Mechanics and Bidding Structure Explained
A major feature of the new system is that all auction prices and bidding increments will be conducted in Pakistani Rupees (PKR). The base prices for players have been set across four brackets: Rs 42 million, Rs 22 million, Rs 11 million, and Rs 6 million.
The PCB also finalized minimum incremental bid values to maintain competitive balance:
- Rs 250,000 for bids under Rs 11 million
- Rs 500,000 for bids under Rs 22 million
- Rs 1 million for bids under Rs 42 million
- Rs 1.5 million for bids above Rs 42 million
Franchises are free to bid beyond these minimum increments.
Squad Composition and Playing XI Requirements
Each franchise squad will comprise 16 to 20 players, including five to seven foreign players, depending on squad size. Matchday regulations require that teams field at least three and no more than four overseas players in the playing XI.
To support youth development, franchises must also include at least two uncapped Under-23 players in their squads, with one required to feature in the playing XI.
Player Contracts and Retention Policy
All players retained or acquired during the PSL 11 Player Auction will be signed on two-year contracts, providing greater stability for both players and franchises. Following PSL 11, teams may retain up to seven players for the 12th edition.
After PSL 12, a grand auction will be held, with franchises allowed a maximum of five retentions, and all other players returning to the general auction pool.
Direct Signing of Foreign Players and Team Purse
Outside the auction, franchises are entitled to directly sign one foreign player who did not participate in HBL PSL X. Each franchise’s auction purse of Rs450 million may be extended up to Rs505 million to accommodate this signing. The PCB will also provide financial support to help franchises secure elite international players, strengthening the league’s global appeal.
League Expansion and Tournament Window
The 11th edition of the PSL will feature expanded franchises, with Hyderabad and Sialkot joining the league, bringing the total number of teams to eight. The tournament will run from March 26 to May 3, 2026, and will be hosted across five cities: Karachi, Lahore, Multan, Rawalpindi, and Faisalabad, which will host PSL matches for the first time.
PCB and PSL Leadership Welcome New Era
Speaking after the workshop, PCB Chairman Mohsin Naqvi described the auction model as a landmark reform that will shape the future of the league. He highlighted that the system provides players with better financial opportunities through a transparent and market-driven acquisition process, while enhancing the league’s competitiveness and appeal.
HBL PSL CEO Salman Naseer echoed these sentiments, describing the auction as the start of a highly anticipated new era. He emphasized that the modernised recruitment system promotes fairness, transparency, and market-driven value, aligning the PSL with top global T20 leagues and meeting the expectations of fans.
Final Thoughts: PSL Player Auction System
With the introduction of the auction model, expanded franchises, and enhanced financial and developmental structures, HBL PSL 11 is poised to represent a defining chapter in the league’s history. The tournament promises greater competitiveness, increased financial opportunities for players, and a richer fan experience, cementing the PSL’s reputation as one of the premier T20 leagues in the world.