PSL 11 | HBL PSL 2026 | Updated: 26 March 2026
The Pakistan Super League is back — and this time, it’s bigger than ever.
PSL 2026 (officially HBL PSL 11) is the most important season in the league’s history. The PSL expanded from six to eight teams, introduced a first-ever player auction replacing the old draft system, and brought in brand-new franchises. The tournament runs from March 26 to May 3, 2026, ending with the final back in Lahore.
If you want to know exactly who plays for which team, how each squad was built, and what to expect from every franchise — you’re in the right place.
What Changed in PSL 2026 All Teams Squads (Read This First)
Before we get into the squads, here’s what’s different this season:
- 8 teams instead of 6 — PSL’s biggest expansion yet
- First-ever player auction held on February 11, 2026 in Lahore — replacing the draft system used since 2016
- New franchises: Hyderabad Houston Kingsmen and Multan Sultans (rebranded from Sialkot Stallionz)
- Pindiz is the new name for what used to be Multan Sultans — now based in Rawalpindi under new ownership (Walee Technologies)
- Salary cap: PKR 45 crore per team (extendable to PKR 50.5 crore with a direct overseas signing)
- New trophy: Named “Infinity,” handcrafted by 18 artisans in 2,600 hours
- Prize money: Champions receive US$500,000
Three players crossed the PKR 8 crore mark in the auction: Naseem Shah (PKR 8.65 cr), Faheem Ashraf (PKR 8.5 cr), and Daryl Mitchell (PKR 8.05 cr).
PSL 2026 All 8 Teams — Quick Overview
| Team | Captain | Home City | Titles |
|---|---|---|---|
| Lahore Qalandars | Shaheen Shah Afridi | Lahore | 2 |
| Islamabad United | Shadab Khan | Islamabad | 2 |
| Peshawar Zalmi | Babar Azam | Peshawar | 1 |
| Quetta Gladiators | Sarfaraz Ahmed | Quetta | 1 |
| Karachi Kings | — | Karachi | 1 |
| Pindiz | Mohammad Rizwan | Rawalpindi | New identity |
| Multan Sultans | — | Multan | New identity |
| Hyderabad Houston Kingsmen | — | Hyderabad | New franchise |
1. Lahore Qalandars — Defending Champions
Lahore come in as PSL 10 winners and the team to beat. They kept their core intact and added major firepower through the auction.
Captain: Shaheen Shah Afridi
Full Squad
Retained / Direct Signings:
- Shaheen Shah Afridi — PKR 7.00 cr (Retained)
- Abdullah Shafique — PKR 2.20 cr (Retained)
- Sikandar Raza — PKR 2.80 cr (Retained)
- Mohammad Naeem — PKR 70 lacs (Retained)
- Mustafizur Rahman — PKR 6.44 cr (Direct Signing)
Auction Additions:
- Haris Rauf — PKR 7.6 cr
- Fakhar Zaman — PKR 7.95 cr
- Usama Mir — PKR 3.5 cr
- Ubaid Shah — PKR 2.70 cr
- Haseebullah Khan — PKR 1.1 cr
- Dasun Shanaka — PKR 0.75 cr
- Parvez Hossain Emon — PKR 0.6 cr
- Asif Ali — PKR 0.6 cr
- Tayyab Tahir — PKR 0.6 cr
- Mohammad Farooq — PKR 0.6 cr
Why they’re dangerous: Shaheen and Haris Rauf form the best pace duo in the tournament. Fakhar Zaman gives them a power-packed opener. Sikandar Raza is a genuine all-round match-winner on any surface.
2. Islamabad United — The Data-Driven Contenders
Islamabad United have always been tactical masters. This season they assembled a well-balanced side built around Shadab Khan’s leadership and the expensive acquisition of Faheem Ashraf.
Captain: Shadab Khan
Full Squad
Retained / Direct Signings:
- Shadab Khan — PKR 7.00 cr (Retained)
- Salman Irshad — PKR 1.20 cr (Retained)
- Andries Gous — PKR 1.40 cr (Retained)
- Devon Conway — PKR 6.30 cr (Direct Signing)
Auction Additions:
- Faheem Ashraf — PKR 8.50 cr (2nd most expensive in auction)
- Mark Chapman — PKR 7.00 cr
- Mohammad Wasim Jr — PKR 4.10 cr
- Imad Wasim — PKR 2.20 cr
- Mehran Mumtaz — PKR 1.20 cr
- Max Bryant — PKR 1.95 cr
- Haider Ali — PKR 1.50 cr
- Sameer Minhas — PKR 1.90 cr
- Richard Gleeson — PKR 1.10 cr
- Shamar Joseph — PKR 1.10 cr (later released)
- Mohammad Hasnain — PKR 0.775 cr
- Mir Hamza Sajjad — PKR 0.70 cr
- Sameen Gul — PKR 0.60 cr
- Dipendra Singh Airee — PKR 0.60 cr
Why they’re dangerous: Devon Conway adds class at the top. Faheem Ashraf is an impact all-rounder who changes games with bat and ball. Shadab’s captaincy has always found ways to win close matches.
3. Peshawar Zalmi — Babar Azam’s Redemption Season
Peshawar retained Babar Azam and built one of the most star-studded squads in PSL history around him. With Aaron Hardie as a direct signing and a world-class middle order, they look like genuine title contenders.
Captain: Babar Azam
Full Squad
Retained / Direct Signings:
- Babar Azam — PKR 7.00 cr (Retained)
- Sufiyan Muqeem — PKR 4.48 cr (Retained)
- Abdul Samad — PKR 2.80 cr (Retained)
- Ali Raza — PKR 1.96 cr (Retained)
- Aaron Hardie — Direct Signing
Auction Additions:
- Michael Bracewell — PKR 4.20 cr
- Kusal Mendis — PKR 4.20 cr
- James Vince — PKR 3.00 cr
- Khurram Shahzad — PKR 2.70 cr
- Mohammad Haris — PKR 2.20 cr
- Iftikhar Ahmed — PKR 1.80 cr
- Aamir Jamal — PKR 1.90 cr
- Abdul Subhan — PKR 0.625 cr
- Nahid Rana — PKR 0.60 cr
- Mirza Tahir Baig — PKR 0.60 cr
- Kashif Ali
Why they’re dangerous: Babar + Vince + Mendis at 1-2-3 is one of the most high-quality batting lineups in the tournament. Bracewell and Hardie offer middle-order hitting and overs with the ball. Sufiyan Muqeem is their spin X-factor.
4. Quetta Gladiators — Rebuilding Around Youth
Quetta took a different approach. They retained the lesser-known but talented core and added experienced overseas names to build depth.
Captain: Sarfaraz Ahmed
Full Squad
Retained / Direct Signings:
- Abrar Ahmed — PKR 7.00 cr (Retained)
- Usman Tariq — PKR 5.60 cr (Retained)
- Hasan Nawaz — PKR 3.92 cr (Retained)
- Shamyl Hussain — PKR 0.84 cr (Retained)
- Spencer Johnson — Direct Signing
Auction Additions:
- Rilee Rossouw
- Khawaja Mohammad Nafay — PKR 6.50 cr
- Tom Curran
- Ben McDermott
- Samuel Harper
- Brett Hampton
- Bevon Jacobs
- Jahandad Khan
- Faisal Akram
- Arafat Minhas
- Wasim Akram Jr
- Khan Zaib
- Saqib Khan
- Bismillah Khan
Why they’re dangerous: Abrar Ahmed is one of the best mystery spinners in T20 cricket right now. Rossouw is a proven match-winner. Spencer Johnson’s pace could be lethal in the powerplay. Quetta always punch above their weight.
5. Karachi Kings — The Star-Studded Resurrection
Karachi have struggled in recent seasons but went all-in this time. Landing David Warner at PKR 7.9 crore and adding Moeen Ali was a statement of serious intent.
Captain: To be confirmed
Full Squad
Retained / Direct Signings:
- Hasan Ali — PKR 4.76 cr (Retained)
- Abbas Afridi — PKR 3.08 cr (Retained)
- Khushdil Shah — PKR 3.36 cr (Retained)
- Saad Baig — PKR 60 lacs (Retained)
- Moeen Ali — PKR 6.44 cr (Direct Signing)
Auction Additions:
- David Warner — PKR 7.90 cr
- Azam Khan
- Salman Ali Agha
- Adam Zampa
- Johnson Charles
- Mohammad Wasim Jr
- Aqib Ilyas
- Mir Hamza
- Khuzaima Bin Tanveer
- Hassanullah
- Rizwanullah
Why they’re dangerous: David Warner is a proven PSL performer who knows how to win on Pakistan’s pitches. Moeen Ali offers all-round quality. Abbas Afridi can be near unplayable with the new ball. This squad has the talent to go deep in the tournament.
6. Pindiz — New Identity, Familiar Faces
This is the most complicated story in PSL 2026. The original Multan Sultans franchise was sold to Walee Technologies, who rebranded the team as Pindiz and relocated it to Rawalpindi. They still have Mohammad Rizwan at the helm, and they splashed out on Naseem Shah — the most expensive player in PSL auction history at PKR 8.65 crore.
Captain: Mohammad Rizwan
Full Squad
Retained / Direct Signings:
- Mohammad Rizwan — PKR 7.00 cr (Retained)
- Sam Billings — PKR 2.20 cr (Retained)
- Zaman Khan — PKR 2.80 cr (Retained)
- Yasir Khan — PKR 70 lacs (Retained)
Auction Additions:
- Naseem Shah — PKR 8.65 cr (Most expensive player in PSL auction history)
- Daryl Mitchell — PKR 8.05 cr (Most expensive overseas signing)
- Mohammad Amir — PKR 5.40 cr
- Rishad Hossain — PKR 3.00 cr
- Asif Afridi — PKR 2.40 cr
- Amad Butt — PKR 0.80 cr
- Laurie Evans — PKR 1.10 cr
- Kamran Ghulam — PKR 0.65 cr
- Abdullah Fazal — PKR 0.675 cr
- Fawad Ali — PKR 0.60 cr
- Mohammad Amir Khan — PKR 0.60 cr
- Shahzaib Khan — PKR 0.60 cr
Why they’re dangerous: Rizwan’s captaincy is calm and calculated. Naseem Shah at full speed is a nightmare for any batting lineup. Daryl Mitchell can win games almost single-handedly. If their pace attack fires, Pindiz could go all the way.
7. Multan Sultans — New Owners, Fresh Chapter
Here’s the twist: the Sialkot Stallionz franchise was bought by CD Ventures, who scrapped the Sialkot identity and brought back the beloved Multan Sultans name. This means PSL 2026 actually has a Multan Sultans team — just with new ownership and a completely different squad from what fans remember.
Their biggest signing? Australian legend Steve Smith as a direct pick.
👉 Check out Multan Sultans PSL 2026 Squad — 7 Strongest Players
Captain: To be confirmed
Full Squad
Retained / Direct Signings:
- Mohammad Nawaz — PKR 6.16 cr (Retained)
- Mohammad Salman Mirza — PKR 3.92 cr (Retained)
- Ahmed Daniyal — PKR 2.24 cr (Retained)
- Saad Masood — PKR 0.84 cr (Retained)
- Steve Smith — Direct Signing
Auction Additions:
- Sahibzada Farhan — PKR 5.70 cr
- Ashton Turner — PKR 4.20 cr
- Josh Philippe — PKR 2.30 cr
- Peter Siddle — PKR 2.50 cr
- Tabraiz Shamsi — PKR 2.20 cr
- Momin Qamar — PKR 1.075 cr
- Shan Masood — PKR 0.65 cr
- Jahanzaib Sultan — PKR 0.60 cr
- Lachlan Shaw — PKR 0.60 cr
- Delano Potgieter — PKR 0.60 cr
- Muhammad Awais Zafar — PKR 0.60 cr
Why they’re dangerous: Steve Smith adds elite T20 experience and leadership presence. Sahibzada Farhan is red-hot in current form. Mohammad Nawaz is a proven PSL performer. Tabraiz Shamsi gives them a left-arm wrist spin option that’s very hard to pick.
8. Hyderabad Houston Kingsmen — The Wildcard Team
Hyderabad Houston Kingsmen are one of the two genuinely new franchises in PSL 2026, owned by the FKS Group. They’ve built a young, fearless squad and could be the tournament’s biggest surprise package.
Captain: To be confirmed
Full Squad
Pre-Auction Picks / Direct Signings:
- Saim Ayub (Retained from pool)
- Usman Khan
- Akif Javed
- Maaz Sadaqat
- Marnus Labuschagne — Direct Signing (covers for Glenn Maxwell)
Auction Additions:
- Riley Meredith — PKR 4.20 cr
- Kusal Perera — PKR 3.10 cr
- Muhammad Irfan Khan (Niazi) — PKR 2.90 cr
- Mohammad Ali — PKR 2.15 cr
- Hassan Khan — PKR 1.85 cr
- Ottneil Baartman — PKR 1.10 cr
- Shayan Jahangir — PKR 0.60 cr
- Hammad Azam — PKR 0.60 cr
- Sharjeel Khan — PKR 0.60 cr
- Asif Mehmood — PKR 0.60 cr
- Hunain Shah — PKR 0.60 cr
- Rizwan Mehmood — PKR 0.60 cr
- Saad Ali — PKR 0.60 cr
- Tayyab Arif — PKR 0.60 cr
Why they’re dangerous: Saim Ayub is currently one of the most destructive openers in Pakistan cricket. Riley Meredith brings raw pace from Australia. Marnus Labuschagne offers solidity and craft. As a new team, they have nothing to lose — and that’s often what makes a dangerous side.
PSL 2026 Most Expensive Players — Top 10
| Player | Team | Price |
|---|---|---|
| Naseem Shah | Pindiz | PKR 8.65 cr |
| Faheem Ashraf | Islamabad United | PKR 8.50 cr |
| Daryl Mitchell | Pindiz | PKR 8.05 cr |
| Fakhar Zaman | Lahore Qalandars | PKR 7.95 cr |
| David Warner | Karachi Kings | PKR 7.90 cr |
| Haris Rauf | Lahore Qalandars | PKR 7.60 cr |
| Shaheen Shah Afridi | Lahore Qalandars | PKR 7.00 cr |
| Shadab Khan | Islamabad United | PKR 7.00 cr |
| Babar Azam | Peshawar Zalmi | PKR 7.00 cr |
| Abrar Ahmed | Quetta Gladiators | PKR 7.00 cr |
Note: Steve Smith (Multan Sultans) was a direct signing at PKR 14 crore — making him technically the most expensive player in PSL 2026 overall.
PSL 2026 Tournament Format
The expanded 8-team format works like this:
- Teams split into two groups of four
- Each team plays 10 league matches — playing same-group teams twice, cross-group teams once
- Top teams advance to the playoffs (Qualifier + two Eliminators + Final)
- Total matches: 44
- Venues: Lahore (15), Rawalpindi (11), Faisalabad (7), Karachi (6), Multan (4), Peshawar (1)
- The opening match and the final are both in Lahore
Who Will Win PSL 2026? Our Take
Every team has genuine match-winners this season. But here’s how we see it:
Favorites: Lahore Qalandars (defending champions with an almost unchanged core), Peshawar Zalmi (Babar + explosive overseas stars), Pindiz (Rizwan + Naseem — just built different)
Dark horses: Islamabad United (Faheem Ashraf’s form will define their season), Multan Sultans (Steve Smith and Sahibzada Farhan is a fascinating combination)
Exciting wildcards: Hyderabad Houston Kingsmen (Saim Ayub can win games from anywhere)
PSL 2026 Auction — Key Facts
- The auction was the first in PSL history — a complete break from the draft system used since 2016
- Nearly 900 players registered for the auction pool
- 103 players were sold during the 8-hour event held at Lahore Expo Centre
- Each team needed a minimum of 16 players and could sign up to 20
- Each squad must include at least two Under-23 uncapped players, with one in the playing XI
- Players selected enter two-year contracts with their franchises
FAQs — PSL 2026 Squads
How many teams are in PSL 2026? Eight teams — the most in PSL history. The two new franchises are Hyderabad Houston Kingsmen and Multan Sultans (rebranded from Sialkot Stallionz).
What happened to the original Multan Sultans? The original Multan Sultans franchise was sold to Walee Technologies in February 2026. The new owners renamed the team Pindiz and relocated it to Rawalpindi. Meanwhile, Sialkot Stallionz was sold to CD Ventures, who revived the Multan Sultans name.
Who is the most expensive player in PSL 2026? Naseem Shah was the most expensive auction buy at PKR 8.65 crore, going to Pindiz. But Steve Smith was directly signed by Multan Sultans for PKR 14 crore — making him the highest-paid player overall.
When does PSL 2026 start? The tournament begins on March 26, 2026, with the final on May 3, 2026.
How many overseas players can a team have in their playing XI? Each team can field up to four overseas players in their playing XI.
Which team has the strongest squad on paper? Peshawar Zalmi and Pindiz look the most balanced on paper. Lahore have the edge in pace attack. But PSL rarely goes to the team that looks best on paper — that’s what makes it so good.
Can players be traded between teams? Yes. A player transfer window was open from March 12 to 18, 2026, allowing franchises to trade players before the tournament.