The Pakistan Super League will stage the first player auction in its history on 11 February, with franchises bidding in taka for squads ahead of the league’s 11th edition.
The PSL confirmed the date in a statement on Sunday, also announcing that the base price for the top bracket of players will be set at Tk 4.2 cr. The remaining categories will carry base prices of Tk 2.2 cr, Tk 1.1 cr and Tk 60 lakh. A venue for the auction has yet to be named.
The move marks a significant shift for the league, which has operated under a draft system since its inception. The Pakistan Cricket Board announced last week that the change to an auction model was being introduced alongside wider reforms to accommodate two new franchises, Hyderabad and Sialkot.
Each franchise will be permitted to retain up to four players from their existing squads, with one retention allowed in each of the Platinum, Diamond, Gold and Silver categories. The placement of players within those categories has not yet been confirmed.
Under the new regulations, squads must include between 16 and 20 players, with a maximum of five to seven overseas cricketers. All players, whether retained or signed at auction, will be contracted to their franchise for two years. Teams will also be required to field at least one local player under the age of 23 who has not previously appeared in the PSL.
In addition to the auction, franchises have been authorised to directly sign one overseas player each. While each team has an auction purse of Tk 45 cr, this may be extended to Tk 50.5 cr to accommodate that direct signing.
The announcement followed a workshop involving PCB chairman Mohsin Naqvi, PSL chief executive Salman Naseer, representatives from all eight franchises and several 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 a 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 also confirmed plans to hold a separate auction for the Multan Sultans franchise, which is currently without an owner. The deadline for submission of technical bids is 30 January, with the sale of the franchise expected to take place before the player auction.
