The Pakistan Super League has fixed January 13, 2027 as the deadline by which all franchises must finalise their player retentions ahead of PSL 12. The decision was formalised on October 30, 2026, following a workshop chaired by the league's Chief Executive Officer (CEO) Salman Naseer, with representatives from all eight franchises taking part in the annual tournament marking their attendance in Lahore.
The retention policy, along with auction procedures and squad size requirements, received unanimous approval from every franchise at the meeting. The player auction itself is scheduled for January 23, 2027, ten days after the retention deadline closes, making this only the second player auction in HBL PSL history.
As per the new guidelines, each franchise will be permitted to retain a maximum of seven players. However, any team that opts to retain the full complement of seven must release the player who commanded the highest price at the previous auction. This condition was built into the framework to maintain competitive balance across the league.
The salary cap for each franchise has been set at PKR 450 million, which is approximately equivalent to $1.6 million. However, franchises that make a direct signing from the previous season or choose to do both a retention and a direct signing will see their salary cap rise to PKR 505 million. Each team will also be required to spend at least Rs365 million at the player auction.
The direct signing window will remain open until November 23. Franchises will only be permitted to directly sign overseas players who either featured in a previous PSL edition or did not appear in the two most recent editions. The retention deadline of January 13 was deliberately scheduled to follow the conclusion of the National T20 Cup, allowing domestic performers the opportunity to impress franchise management before final decisions are made. Some franchises had proposed bringing the retention deadline forward, but PSL officials defended the existing January 13, 2027 date.
