PSL 12 retention rules: 7 players by 13 January, Rs 45 crore cap, auction on 23 January 2027

Last updated: 30 October 2026, 7:30pm PKT. PSL 12 retention deadline 13 January 2027; player auction 23 January 2027; direct signings open until 23 November 2026. The tournament runs 18 March to 2 May 2027.

New: PSL 12 retention rules, salary cap and auction terms agreed (29 October 2026)

PSL 12 franchises can retain up to seven players, including a direct signing, by 13 January 2027, ten days before the 23 January auction, and a team that uses all seven must release one player from the previous auction's top price tier into the pool, Dawn reported from the PCB's announcement. All eight franchises agreed the rules unanimously at a tournament operations workshop at the Gaddafi Stadium on Thursday 29 October, chaired by PSL chief executive Salman Naseer.

Why 13 January: the deadline falls after the National T20 Silver, which has finished, and during the National T20 Gold, so a domestic player in form now can still change a franchise's mind. The PCB called it a "live, data-driven link" between domestic cricket and the PSL.

Why the forced release: making a full-retention team give up one top-tier name means every franchise can bid for elite players at the auction, while teams still keep most of their squads. Which players could be released has not been announced.

"What made today remarkable was not just what was agreed, it was how it was agreed," Naseer said, adding the auction rules were reviewed "line by line". The PCB says more PSL 12 announcements are due in the coming weeks: venues, fixtures in PKT and tickets will be added here the day they are published.

Earlier update:

New: PSL 12 auction on 23 January 2027, direct signings open now (23 October 2026)

The PSL 12 player auction will be held on 23 January 2027, and the direct signings window opened on Friday 23 October for all eight franchises, the PCB announced, Dawn reported. ProPakistani carried the same roadmap.

• One marquee signing each: every franchise may sign one marquee player directly, but only a player who did not appear in PSL 10 or PSL 11. Expect the teams to chase overseas names who have not played in Pakistan recently.
• 44 matches in 46 days: 40 league games and four playoffs.
• Five to six venues: the PCB says this is the first time the league will spread across that many grounds; which cities is still to be announced.
• Domestic route in: the National T20 Gold and National T20 Silver tournaments are now lined up with the PSL calendar as the main talent search for uncapped players.
• Still to come: retention deadlines, the trade window and the auction rules (decided at next week's workshop), then venues, fixtures and tickets.

PCB chairman Mohsin Naqvi called PSL 12 the league's most ambitious season, and PSL chief executive Salman Naseer said squad building "starts now".

Peshawar Zalmi are the HBL PSL 2026 champions. They beat Hyderabad Kingsmen by 5 wickets in the final at Gaddafi Stadium, Lahore, on 3 May 2026 to win their second title (the first came in 2017). Aaron Hardie was player of the match with 4-27 and 56 not out.

PSL Sixes under consideration (22 October 2026)

The PSL is looking at a six-a-side tournament, the HBL PSL Sixes, to be played in the off-season, tournament chief executive Salman Naseer said on a PSL podcast released ahead of the governing council meeting, ESPNcricinfo reported on 22 October. The idea is loosely based on the Hong Kong Sixes and is "highly conceptual": "Nothing is finalised but there are some exciting plans," Naseer said.

• Why: the PCB wants to keep the PSL brand active all year and add a revenue stream.
• Where: a short event with fewer players could go to smaller stadiums and cities that have never hosted the PSL. Since 2020 the league has been played in Karachi, Lahore, Multan and Rawalpindi.
• The catch: finding a window when foreign players are free.
• What to watch: the governing council meeting is expected to confirm the PSL 12 schedule and the dates and venue of the player auction. We will add them here the day they are announced.

PSL 12 dates: 18 March to 2 May 2027 (confirmed)

8 October 2026: the PCB has confirmed that HBL PSL 12 will run from Thursday 18 March to Sunday 2 May 2027, one day earlier than the tentative 19 March start reported last week, Dawn reported from the board's announcement. The window was settled with franchise owners at the governing council meeting in London on 1 September.

What it means for fans: the whole league falls after Ramadan and Eid (Ramadan is expected to begin around 8 February 2027). The match list will give start times in PKT; we will add it here the day the PCB releases it. Players bought at the February 2026 auction are on two-year contracts covering PSL 11 and PSL 12, so most squads carry over.

Earlier update:

1 October 2026: PSL 12 was tentatively scheduled to run from 19 March 2027, with the final on 2 May 2027, ProPakistani reported. The window is agreed in principle but still needs official PCB confirmation after talks with the franchises.

• Why March: Ramadan is expected to begin around 8 February 2027, so a March start puts the league after Eid. The broadcaster had pushed for a January start and franchise owners preferred April; mid-March to early May is the compromise.
• IPL clash: the window overlaps with the IPL (10 March to 15 May 2027), which affects which overseas players franchises can sign.
• Still to come: the player auction date, the venues and the full match list.

Earlier updates:

• 1 September 2026: at a Governing Council meeting in London, a January or January to February 2027 window was proposed, with a possible start in Karachi to avoid fog in Punjab. Overseas player clashes with SA20 and the Big Bash were raised. No final decision was taken.
• 31 July 2026: the board was weighing February to March 2027 against April to May 2027.

HBL's title sponsorship already covers PSL 12. No PSL match is scheduled before then.

Final points table

The top four qualified for the playoffs. Hyderabad took fourth place ahead of Lahore and Karachi on net run rate.

Playoff results (newest first)

In the final, Saim Ayub top-scored for Hyderabad with 54 and Mohammad Ali took 3-38, but Hardie and Abdul Samad (48) took Zalmi home with 28 balls to spare.

Season at a glance

The original schedule, announced on 10 March, spread matches across six cities: Faisalabad, Karachi, Lahore, Multan, Peshawar and Rawalpindi. On 22 March the PCB cut this to Lahore and Karachi only, behind closed doors, citing government austerity and energy saving. On 27 April the Prime Minister approved spectators for the playoffs, and the final drew 32,461 people, the biggest crowd in PSL history according to ESPNcricinfo's match record.

The eight teams, and what changed

• Peshawar Zalmi, Islamabad United, Karachi Kings, Lahore Qalandars, Quetta Gladiators: unchanged.
• Hyderabad Kingsmen (new): bought by FKS Group for Rs 1.75 billion at the 8 January 2026 franchise auction.
• Multan Sultans: the Sialkot franchise, bought by OZ Developers for Rs 1.85 billion in January, was renamed Multan Sultans after CD Ventures took a majority stake on 3 March.
• Rawalpindiz (Pindiz): the old Multan Sultans franchise, bought by Walee Technologies for Rs 2.45 billion after Ali Tareen did not renew, moved to Rawalpindi.

PSL 2026 also held the league's first player auction (11 February, Lahore), replacing the draft. Naseem Shah was the most expensive buy at Rs 86.5 million (Rawalpindi), ahead of Daryl Mitchell at Rs 80.5 million (Rawalpindi) and David Warner at Rs 79 million (Karachi Kings).

Top performers and awards

Zalmi swept the batting and bowling caps: Babar and Muqeem together drove a side that lost only once in the league.

Prize money

The PCB set these amounts for PSL 11, as reported on 2 May:

Rupee figures use today's rate of Rs 277.72 per dollar from our USD to PKR page; convert other amounts with the currency converter. This was the first season in which franchises received their own prize money.

Where it was shown

On TV in Pakistan: PTV, A Sports, Geo Super and Ten Sports. Streaming: Tapmad, Tamasha and Myco. Broadcast partners for PSL 12 have not been announced.

What comes next

Zalmi's 2026 title is their second, after 2017. We will add PSL 12 fixtures, squads and the points table here as soon as the PCB publishes them.