The Pakistan Cricket Board conducted a detailed workshop regarding the upcoming HBL PSL player auction at the Gaddafi Stadium, Lahore on Sunday.

The workshop was presided over by PCB Chairman Mohsin Naqvi and PSL CEO Salman Naseer and was attended by HBL PSL officials, all eight franchise representatives, members of Pakistan’s T20 World Cup squad, PCB officials and other capped players, says a PCB statement.

Among the players, the top two leading run-scorers in HBL PSL history Babar Azam and Fakhar Zaman and the top two leading wicket-takers Hasan Ali and Shaheen Shah Afridi were also present.

The HBL PSL management shared a detailed presentation on the mechanics of the retention and the auction process and consulted with all the participants.

It was agreed that the HBL PSL Player Auction will take place on Wednesday, February 11.

Among discussions on various aspects of the Auction, apart from the franchise representatives, the players were fully engaged in the process.

The base prices of the players were also revealed, and it was decided that the auction price and minimum incremental bids for the players were to be in Pakistani rupees.

The base price of the top bracket was set in Rs4.2 crore, Rs2.2 crore, Rs1.1 crore and Rs60 lakhs.

The minimum incremental bid for each base price was also decided and are as follows:

• Rs250,000 for bid amounts under Rs 1.1 crore
• Rs500,000 for bid amounts under Rs2.2 crore
• Rs1,000,000 for bid amounts under Rs4.2 crore
• Rs1,500,000 for bid amounts above Rs4.2 crore

The franchises are free to bid higher than the above mentioned minimum incremental bid for each base price.

The squad composition would be a minimum of 16 players and a maximum of 20 players per franchise.

The number of foreign players would be five to seven, depending on the squad size.

It would be mandatory for the franchises to play a minimum of three and a maximum of four foreign players in the playing XI.

The teams are also required to have a minimum of two uncapped Under-23 players in the squad and one in the playing XI.

Players either retained or picked in the HBL PSL 11 players auction will be engaged for two-year contracts with their respective franchise teams.

After the HBL PSL 11, the franchise teams will be able to retain a maximum of seven players for the 12th edition of the tournament.

Following the HBL PSL 12, there shall be a grand auction whereby each franchise is allowed a maximum of five retentions.

Any released player will return to the player auction pool.

Franchises will also be entitled to directly sign one foreign player for the HBL PSL 11, who has not played in the HBL PSL X.

The franchise team’s purse of Rs45 crore will be extendable to Rs50.5 crore to include the directly signed foreign players.

The PCB will also contribute towards the procurement of elite foreign players.