Steve Smith has emerged as the most expensive player in HBL Pakistan Super League (PSL) history, with the newly formed franchise Sialkot Stallionz agreeing to pay him more than Rs. 140 million for the upcoming season.
The 11th edition of the PSL will take place in March, and this year the Pakistan Cricket Board allowed each franchise to directly sign one foreign player, provided the player did not feature in the previous PSL season. Using this option, Sialkot Stallionz secured the services of Australian batter Steve Smith.
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Sources say Smith will receive over $500,000, which converts to more than Rs. 140 million, placing him at the top of the PSL salary list. Another franchise also made a similar offer, but Smith ultimately finalized the deal with Sialkot.
By comparison, Pakistan captain Babar Azam earns Rs. 70 million, meaning Smith’s contract is worth twice as much, setting a new benchmark for player salaries in the league.
The PSL has expanded this season with the addition of two new teams, prompting the PCB to reduce the retention quota for existing franchises from eight players to four. Teams were allowed to retain one player from each of the four categories.
Following the release of retained player lists, most franchises announced Rs. 7 crore as the salary for their platinum-category players. However, sources indicate that some players are receiving higher payments than officially declared, with only approved figures reflected in records.
The expansion has intensified competition for players, allowing many cricketers to leverage rival offers to negotiate improved contracts.
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