Australian cricketer Steve Smith has set a new record by becoming the highest-paid player in the history of the HBL Pakistan Super League (PSL). The newly formed franchise, Sialkot Stallionz, has signed the experienced batter for more than Rs140 million, making him the most expensive signing ever in the tournament and placing his salary at nearly double that of Pakistan’s star batter Babar Azam.
The upcoming 11th edition of the PSL is scheduled to take place in March. For this season, the Pakistan Cricket Board (PCB) introduced a new rule allowing each franchise to directly sign one foreign player, provided that the cricketer did not participate in the previous season. Taking advantage of this opportunity, Sialkot Stallionz secured Smith’s services in a high-profile deal.
According to reports, Smith’s contract exceeds $500,000, which converts to over Rs140 million. Although another team reportedly showed interest and offered a similar amount, the final agreement was reached with Sialkot. In comparison, Babar Azam currently earns around Rs70 million, highlighting the scale of Smith’s record-breaking deal.
With the addition of two new teams this year, the PCB has reduced the player retention limit for existing franchises from eight to four, allowing them to keep one player from each category. Recently, franchises revealed their retained players and official salaries, with many platinum-category cricketers receiving around Rs70 million. However, sources suggest that some players may be earning more than the publicly disclosed figures.
The expansion of the league has increased competition for top talent, enabling players to negotiate better contracts. Meanwhile, defending champions Lahore Qalandars have signed Bangladesh pacer Mustafizur Rahman for Rs64.4 million and retained key players to strengthen their squad.
These developments have added excitement ahead of PSL 11, promising an intense and competitive season for cricket fans.
