Steve Smith becomes PSL's most expensive player in auction era
Cricket
Steve Smith has become PSL’s most expensive player after Sialkot Stallions signed him for Rs 140 million, as PSL 11 adopts a new auction system.
LAHORE (Dunya News) - The 11th edition of the Pakistan Super League (PSL) has made history even before its official start, as franchises took major decisions under the league’s new auction-based selection model.
Australian star and former captain Steve Smith has emerged as the most expensive player in PSL history.
According to media reports, the newly introduced franchise Sialkot Stallions have signed Steve Smith through a direct signing. The franchise confirmed the deal through an announcement on social media, marking Smith’s first-ever appearance in the Pakistan Super League.
— Sialkot Stallionz (@PSLStallionz) February 3, 2026
Reports suggest that Smith was signed for Rs 140 million, making him the costliest player in the league’s financial history and setting a new benchmark for PSL contracts.
Meanwhile, salaries of retained players for PSL 11 have also been revealed. Peshawar Zalmi retained Babar Azam, Lahore Qalandars kept Shaheen Shah Afridi, and Islamabad United retained Shadab Khan, each for Rs 70 million.
It is important to note that PSL has introduced a major shift in its player selection system this season. The traditional draft format has been replaced with an auction model, under which franchises can retain only one player per category, while the rest of the squad will be completed through bidding.
