PSL 12 Auction 2027 — Date, Rules and How Squads Get Built
Player auction: 23 January 2027 · Direct signings: open now until 23 November 2026 · Retentions: up to 7 per team
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The PSL stopped drafting and started bidding. After ten seasons of a category draft, the league's first open player auction on 11 February 2026 rewired everything: 888 players registered, 103 were sold, and prices told the truth about value in a way salary bands never did. PSL 12 runs the system again — with two additions that make this winter busier than the season itself.
Stage one is happening now. The direct-signing window (23 October – 23 November 2026) lets each franchise sign one marquee overseas player who did not appear in PSL 10 or PSL 11. Stage two is retentions: up to seven players per franchise under the PCB framework, with the deadline set at the franchise workshop. Stage three is the auction itself on 23 January 2027, where the remaining squad places — squads run 16 to 20 players, including at least two uncapped Under-23 players with one in every playing XI under the two-year contract cycle rules — are filled by open bidding.
The purse matters. At the PSL 11 auction each franchise worked with PKR 45 crore, extendable to PKR 50.5 crore in defined circumstances. The PSL 12 purse and base-price bands will be confirmed with the auction regulations; until the PCB publishes them, any exact figure you see elsewhere is recycled from 2026. This hub tracks the confirmed framework and updates the day each rule is published.
Auction FAQs
When is the PSL 12 auction?
The PSL 12 player auction is on 23 January 2027. The PCB confirmed the date on 23 October 2026. The venue and start time have not been announced; one franchise owner has reportedly proposed China, which is a proposal, not a decision.
How is the PSL auction different from the old draft?
For its first ten seasons the PSL used a category-based draft with set salary bands. PSL 11 replaced it with an open auction: franchises bid from a set purse, prices are discovered live, and players can move for record fees — Naseem Shah's PKR 8.65 crore was the top auction bid in 2026.
How many players can a PSL team retain before the auction?
Under the PCB's published framework for PSL 12, each franchise may retain up to seven players. The exact retention deadline is being settled at the franchise workshop.