The Pakistan Super League (PSL) will hold its first-ever players’ auction on Wednesday in Lahore, marking a major shift in the league’s player recruitment system.

The historic event will take place at the Expo Centre, where franchise owners will bid on more than 880 registered players to complete their squads for PSL Season 11.

Each team will be allowed a maximum budget of Rs505 million to build its squad. The budget will also include the costs of retained players and direct signings, officials said.

Under the new regulations, teams will be required to form 16-member squads with at least five overseas players. If a franchise opts for a 21-member squad, it may include up to seven foreign players.

In addition, every team must have a minimum of two under-23 players, aimed at promoting young talent and strengthening Pakistan’s domestic cricket pipeline.

League officials said the auction system is expected to enhance transparency, competitiveness and fan engagement, while giving franchises greater flexibility in squad selection.

The PSL 11 auction is being seen as a major step in the league’s evolution, bringing it closer to international franchise-based models.