Australian batting superstar Steve Smith has returned to the headlines after becoming the most expensive player ever in the Pakistan Super League (PSL) history. Steve Smith has been signed by the Sialkot Stallionz for the 11th season of the Pakistan Super League, and his price tag has stunned everyone.
Sialkot Stallionz shock Pakistan Super League with record Steve Smith signing
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. This signing comes just days after Smith was shockingly overlooked for the T20 World Cup 2026.
Interestingly, Smith went unsold in the IPL Auction for the 2026 season in December 2025, making his PSL deal with the debutant franchise Sialkot Stallionz even more dramatic for the batter.
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Sialkot Stallionz, one of the 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 even before the official PSL player draft.
Smith breaks PSL record with massive 14 Crore deal
It is being said that Smith has been snapped up by Sialkot Stallions for a staggering amount of over 14 crore, with the Australian superstar instantly rewriting the PSL’s 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 massive sum.
Smith’s price tag is historic, as it is double what any other player has earned in the PSL so far. 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 a 7 crore contract each.
STEVE SMITH BECOMES THE MOST EXPENSIVE PLAYER IN PSL HISTORY. 🥶
– Sialkot Stallions have signed Steve Smith for over 14 crore. (Saleem Khaliq) pic.twitter.com/nkMTcauJ3o
— Sheri. (@CallMeSheri1_) February 5, 2026
Most expensive players in PSL history. 🇵🇰
Steve Smith – 14 crore.
Babar Azam – 7 crore.
Shaheen Afridi – 7 crore.
Shadab Khan – 7 crore.
Abrar Ahmed – 7 crore. pic.twitter.com/ZbrXqvQbmd— Salman. (@TsMeSalman) February 5, 2026
Notably, Sialkot and another new team, Kingsmen Hyderabad, still have time until February 6 to make direct signings for their debut seasons. Following the deadline, all eight teams will move to the first-ever PSL Auction on February 11, with the tournament set to kick off on March 26.
Read Also: Full list of players retained by PSL teams before auction; Babar Azam retained, Mohammad Rizwan kicked out
Explosive form and experience not enough as Steve Smith misses the T20 World Cup 2026
Meanwhile, Smith was ignored for the T20 World Cup 2026 despite being in red-hot touch. He recently dominated England during the Ashes and then carried that momentum into the Big Bash League 2025-26. He amassed 299 runs in just six matches for the Sydney Sixers in the BBL 2025-26.
He averaged nearly 60 and scored at an explosive strike rate close to 168, proving he still has plenty to offer in the shortest format of the game. Across his career, he has scored 6,242 runs in 272 T20 matches. His experience and overall T20 record are what the Sialkot team boasts about.
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 featured in the BBL team of the tournament, which ultimately worked in his favour.