Australian batting superstar Steve Smith is back in the headlines after becoming the most expensive player ever in the history of Pakistan Super League (PSL). Steve Smith has been signed by Sialkot Stallions for the 11th season of Pakistan Super League and his price tag has shocked everyone.
Sialkot Stallions shock Pakistan Super League by signing record signing Steve Smith
The Australian batting icon has been paid more than double the amount earned by Pakistan’s own batting hero and former captain Babar Azam, instantly setting a new benchmark in the PSL. The signing comes just days after Smith was surprisingly overlooked for the T20 World Cup 2026.
Interestingly, Smith remained unsold in the IPL auction for the 2026 season in December 2025, making his first PSL deal with franchise Sialkot Stallions even more dramatic for the batsman.
Also read: Babar Azam is Pakistan’s real enemy in T20 World Cup 2026 – and Salman Ali Aga knows it
Sialkot Stallions, one of two new teams added to the Pakistan Super League ahead of the 2026 season, wanted a global face, and they wasted no time in making a statement. The former Australian captain has joined Sialkot Stallionz as a direct signing ahead of the official PSL Player Draft.
Smith breaks PSL record with big deal of Rs 14 crore
Smith is said to have been bought by Sialkot Stallions for a whopping sum of over Rs 14 crore, with the Australian superstar instantly rewriting the PSL record books. The new franchise has made it clear that they want to enter the Pakistan Super League with authority and star power by investing such a huge amount.
Smith’s price is historic, as it is double what any other player has ever earned in the PSL. With this deal, the Australian batting icon becomes the most expensive player in PSL history. Some of Pakistan’s biggest names, like Babar Azam, Shaheen Afridi, Shadab Khan and Abrar Ahmed, have contracts worth Rs 7 crore each.
Steve Smith has become the most expensive player in PSL history.
– Sialkot Stallions have signed Steve Smith for more than 14 crores. (Salim Khaliq) pic.twitter.com/nkMTcauJ3o
– Sherry. (@CallMeSheri1_) 5 February 2026
Most expensive player in PSL history.
Steve Smith- 14 crores.
Babar Azam- 7 crores.
Shaheen Afridi- 7 crores.
Shadab Khan- 7 crores.
Abrar Ahmed- 7 crores. pic.twitter.com/ZbrXqvQbmd-Salman. (@TsMeSalman) 5 February 2026
Notably, Sialkot and another new team, Kingsmen Hyderabad, still have until February 6 to make direct signings for their debut season. After the deadline, all eight teams will participate in the PSL auction for the first time on February 11, with the tournament starting on March 26.
Also Read: Complete list of players retained by PSL teams ahead of auction; Babar Azam retained, Mohammad Rizwan out
Explosive form and experience not enough as Steve Smith misses T20 World Cup 2026
Meanwhile, Smith has been ignored for the T20 World Cup 2026 despite being in red-hot touch. They dominated England during the recent Ashes and then continued that momentum in the Big Bash League 2025-26. He scored 299 runs in just six matches for Sydney Sixers in BBL 2025-26.
He averaged around 60 and scored runs at an explosive strike rate of close to 168, proving that he still has a lot to offer in the shortest format of the game. In his career, he has scored 6,242 runs in 272 T20 matches. The Sialkot team is proud of his experience and overall T20 record.
Notably, the selectors went with Matthew Renshaw, who had a strong BBL 2025-26 season, for the showpiece event. Renshaw scored 324 runs, took five wickets and was included in the BBL team of the tournament, which ultimately worked in his favour.
