Steve Smith Becomes Pakistan Super League’s Highest-Paid Player

KEY POINTS

Australian star’s contract is valued at over $500,000.
PCB introduced new rule allowing franchises to directly sign one overseas player.
Retention slots for existing teams have been cut from eight to four.

ISLAMABAD: Australian batter Steve Smith has set a new benchmark in PSL salaries, with the newly launched Sialkot Stallionz agreeing to a deal exceeding Rs140 million for the 2026 season.

Smith’s contract, valued at over $500,000, places him at the top of the Pakistan Super League (PSL) pay scale.

The amount is roughly double the reported salary of Pakistan captain Babar Azam, who earns around Rs 70 million.

The 11th edition of PSL is slated for March, and the Pakistan Cricket Board (PCB) has made a significant adjustment to player recruitment this year.

For the first time, franchises were permitted to directly acquire one foreign player who did not participate in last season’s tournament.

Seizing the opportunity, Sialkot Stallionz swiftly signed Smith, while sources, cited by Express Tribune, said that another franchise had also shown interest in a comparable offer, but Sialkot closed the deal first.

Retention rules updated after two new teams

Following the addition of two new teams, the PCB reduced the number of players that existing franchises can retain.

Existing franchises can now retain only four players instead of eight, selecting one from each of the four designated categories.

The PCB recently released the list of retained players along with their salaries.

According to official figures, four of the five franchises have set the platinum category salary at Rs7 crore, while players in other categories also receive substantial compensation.

However, sources suggest that some players are earning more than the officially declared amounts, though only the officially announced figures appear on record.

Cricket insiders note that the arrival of two new franchises has heightened competition, enabling players to negotiate higher pay by leveraging offers from rival teams.