PSL 2026 auction to take place on February 11

The auction for the 11th edition of the Pakistan Super League (PSL) will take place on February 11. In a press statement, the PSL also announced the bidding for players will be set in Pakistani Rupees (PKR). The base price for the top bracket has been set at PKR 42 million, with the other categories set at PKR 22 million, 11 million and 6 million.

The announcement, however, did not name a venue for the auction. Last week, the PCB had announced the PSL would move away from a draft to an auction model for the first time in its history, with a number of further changes introduced to accommodate the two additional franchises - Hyderabad and Sialkot - this league. The PSL had earlier announced each franchise would be allowed four retentions in their existing squad, with one retention per player category - Platinum, Diamond, Gold and Silver. Player placement in these categories has not yet been announced.

Each side will be allowed to stock between 16 and 20 players, with five to seven overseas players allowed. Once signed, players will be engaged to two-year contracts with their franchise, with that stipulation applying both to retained players and those snapped up at the auction. Each side will have to play one local player under the age of 23 in their side who is yet to play for the PSL.

Outside the scope of the auction, franchises have also been authorised to directly sign one foreign player each. While each franchise has an auction purse of PKR 450 million, this can be extended to PKR 505 million to accommodate the direct signing.

The statement was put out on Sunday following a detailed workshop between PCB chairman Mohsin Naqvi, PSL CEO Salman Naseer, representatives of all eight franchises, and a number of Pakistan players.

"I'm delighted that a consultative and productive session was held between the franchises, players and management today resulting in informed and strategic decisions which will pave the way for bright future for the HBL PSL," Naqvi said. "The Player Auction model is a landmark step for the HBL PSL, offering players better financial opportunities through an increased salary purse and a transparent acquisition process, while making the league more competitive and attractive."

The PSL is also scheduled to hold an auction for Multan Sultans, who currently do not have an owner. The deadline for the submission of technical bids for potential new owners is January 30, with an auction for the franchise to be held at some point before the player auction.