Drafted as Australia's T20 World Cup cover, Steve Smith scripts PSL history

Steve Smith set a new record as PSL's most expensive player after being signed by the Sialkot Stallions for PKR 14 crore in the league's first ever auction. PSL 11 will feature two new franchises, Sialkot and Hyderabad, and a change from draft to auction format, as over 100 players secured contracts ahead of the season starting March 26.

Steve Smith has become the most expensive player in Pakistan Super League (PSL) history after being directly signed by the new franchise Sialkot Stallionz for PKR 14 crore, or approximately USD 500,000. This landmark deal was a part of the league's first players' auction, which replaced the long-standing draft system and drew significant local and international attention.

The 11th edition of the PSL will feature eight teams for the first time, as the competition expands with the addition of Sialkot and Hyderabad. Both new franchises were bought by overseas Pakistani businessmen. The tournament will run from March 26 to May 3, overlapping with the Indian Premier League (IPL).

Smith's arrival comes as the Australian batter is set to come in as the cover for the injured Mitchell Marsh, as he is set to link up with the squad soon.

In a significant shift, the Pakistan Cricket Board (PCB) introduced a players’ auction system, moving away from the draft model used for the past ten years. The Lahore auction attracted some of the top overseas players, including David Warner, Adam Zampa, Devon Conway, and Marnus Labuschagne.

A total of 103 players were signed across the eight franchises. Naseem Shah emerged as the most expensive Pakistani player, joining Islamabad United for PKR 8.65 crore, while his teammate Faheem Ashraf was also picked up for PKR 8.5 crore.

Babar Azam, one of Pakistan's leading cricketers, was retained by Peshawar Zalmi for PKR 7 crore. Another notable retention was Saim Ayub, who remained at Peshawar Zalmi for PKR 12.2 crore, making him the most expensive local retention.