Steve Smith has rewritten PSL history after becoming the most expensive signing in the league’s history. The Australian star was picked up by the newly formed Sialkot Stallions for 140 million Pakistani rupees ahead of PSL 11. He is set to earn approximately US$500,000 (4.53 crore Indian Rupees) for the upcoming season.
Smith, who is currently part of Australia’s squad for the 2026 T20 World Cup, will step in as a replacement for Mitchell Marsh, who has been ruled out of the tournament due to injury.
PSL 11 Expansion and Auction Changes
The 11th edition of Pakistan Super League will run from March 26 to May 3. This season marks a major shift for the league, with the number of teams increasing from six to eight.
Pakistan Cricket Board introduced two new franchises through an auction process, leading to the creation of the Sialkot Stallions.
Notably, PSL moved away from its traditional draft system and conducted its first-ever player auction in 2026.
The auction, held on February 11, featured several high-profile international names including David Warner, Daryl Mitchell, Devon Conway and Marnus Labuschagne.
Biggest Pakistani Signings
Among domestic players, Naseem Shah emerged as the costliest Pakistani cricketer, securing a deal worth 86.5 million rupees with Islamabad United. His teammate Faheem Ashraf was also signed by the franchise for 85 million rupees.
What About Babar Azam?
Babar Azam was retained by Peshawar Zalmi for 70 million rupees. However, the most expensive retained player was Saim Ayub, who stayed with Zalmi for 125 million rupees.
In total, all eight franchises added 103 players to their squads during PSL auction. Interestingly, while PSL is traditionally held before the IPL, this year the two leagues are set to overlap in their schedules.
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