And with that it is a wrap from me as all the combinations are completed. Hope your side made some good buys but in case, until the tournament starts, its goodbye from me.
Islamabad finish off their squad with Zuhaib Khan, while Gladiators have gone for Mir Hamsa, Karachi have gone for 17-year-old Amad Alam.
Zalmi have gone for a promising all-rounder in Khushdil Shah.
And that concludes the team for Lahore, now it is onto the Karachi Kings, who have gone for Rahat Ali.
Time has elapsed on Islamabad but they can still pick. But the next team, Lahore is ready with the player they want. And they have gone for another emerging player in Mohammad Irfan.
Quetta have gone for localboy Bismillah Khan.
Zalmi have gone for leggie Irfan Khan
Karachi Kings have retained Usama Mir
Lahore Qalandars have gone for another emerging talent, this time, it is Saif Badar.
There is some slight confusion about upcoming pick but finally it is resolved as Shadab Khan moved to Islamabad.
Quetta have gone for an upcoming West Indian sensation in Rovman Powell.
Peshawar Zalmi have picked up explosive Afghanistan wicketkeeper batsman, Mohammad Shahzad.
Karachi Kings have gone a veteran T20 batsman in Mahela Jayawardene, which now means Kumar Sangakkara and Mahela will play in the same team once again.
Shaun Tait is Lahore Qalandars' second supplementary pick. Now, Lahore have picked their quota of foreign players.
Make that three Englishmen in a row. This time it is one who just made his ODI debut and looks likely to make his Test debut. Islamabad United have gone for Ben Duckett.
Another Englishman, this time it is an all-rounder as Quetta have picked up David Willey.
This might be Round 17 of the draft but the energy in the crowd certainly hasn't dampened as there is a huge roar for the English opening batsman.
Peshawar Zalmi have gone for Alex Hales as their first pick in the supplementary pick.
Supplementary pick No.2 goes to Islamabad United as the trade that sent Babar Azam the other way meant United the first supplementary pick of Karachi Kings. And they have made great use of it as they picked up Dwayne Smith.
And the first pick is Grant Elliott who goes to Lahore Qalandars.
We now go onto the supplementary round. The final ROUND of the draft, I promise.
Four teams have stacked their decks and Quetta become the final by picking Hassan Khan and Noor Ali
Karachi Kings have gone for Abrar Ahmed and Abdul Ameer.
Peshawar Zalmi retain Hasan Ali and Mohammad Asghar in the emerging category while reigning champions, Islamabad retain Amad Butt and Hussain Talat.
For Lahore Qalandars, Ghulam Mudassar and Usman Qadir complete the emerging players quota and their squad of 16.
And that concludes the silver category. The next will be the emerging players category who have been retained.
The last pick for Silver category was Harris Sohail who went to Peshawar Zalmi.
Kashif Bhatti was snapped up by Karachi Kings.
Bilawal Bhatti was picked up by Lahore Qalandars.
Quetta have snapped up Umar Amin from the reigning champions.
Zalmi went for Iftikhar Ahmed.
Karachi went for their localboy Khurram Manzoor as their one of their two silver picks.
The first silver selection is Fakhar Zaman who goes to Lahore.
There will now be seven players in the draft over two rounds. Islamabad United have filled their quota so they will sit out the draft for the silver category.
Here are the retentions in the Silver category.
Lahore Qalandars - Azhar Ali, Aamer Yamin and Zafar Gohar
Karachi Kings - Sohail Khan, Shahzaib Hasan and Saifullah Bangash.
Peshawar Zalmi - Sohaib Maqsood, Junaid Khan and Imran Khan Jr,
Quetta Gladiators - Mohammad Nawaz, Mohammad Nabi, Asad Shafiq and Saad Nasim.
Islamabad United - Sam Billings, Saeed Ajmal, Asif Ali, Rumman Raees, Imran Khalid.
Unlike the format so far, the Silver and Emerging categories will first feature the retained players, whose names will be read out. And the teams that haven't filled their quota of players will go into the auction.
And the final pick of the gold category goes to Islamabad, who retain Brad Haddin.
Another veteran finds a home, this time it is Zulfiqar Babar who goes to Quetta.
Peshawar Zalmi have gone for Kamran Akmal.
Karachi Kings opt for Ryan McLaren.
Cameron Delport goes to Lahore Qalandars, who have completed their gold picks.
The final round of Gold picks are almost upon us. Lahore have first dibs.
Khalid Latif, #HULK, goes to the Islamabad United.
Quetta have retained veteran Pakistan fast bowler Umar Gul.
Brendon McCullum is on the couch with Rameez Raja and talks about his successful back surgery and admits that as the captain he has the perk of not having to "keep wickets".
Peshawar Zalmi have picked up Bangladesh's all-time leading ODI run scorer in Tamim Iqbal.
In-form Pakistan batsman Babar Azam goes to Karachi Kings.
Lahore Qalandars have picked up Mohammad Rizwan.
The reigning champions have retained Mohammad Sami.
Tymal Mills is snapped up by Quetta, who will be expecting a few thunderbolts from him.
Peshawar Zalmi have gone for Chris Jordan.
Karachi Kings have retained Imad Wasim, who is their first gold pick.
The Gold round begins with Lahore Qalandars who opt for Anton Devcich.
We will have a quick break before the Gold picks.
Samuel Badree is the final Diamond pick and he is retained by Islamabad United.
The penultimate Diamond pick is Anwar Ali, who is picked up by Quetta.
Peshawar Zalmi have retained the professor, Mohammad Hafeez.
Lahore Qalandars snapped up Shane Warner's favorite leggie, Yasir Shah.
Islamabad United welcome #GIANT, Mohammad Irfan to their side.
Quetta Gladiators have retained Luke Wright.
Shahid Afridi comes to the stage and says he has two announcements up his sleeve. First up, he calls out Younis Khan and even asks him to get to the stage quicker as it is T20s before announcing that he will be the team's batting consultant. The next is that of captain and Afridi says Sammy will captain the Zalmi in PSL 2017.
Darren Sammy, who was just in conversation with Shoaib Malik, walks up to the stage as he is retained by the Zalmi.
There is a little bit of banter going on between Karachi's Shoaib Malik and the Peshawar side, especially Darren Sammy, which even prompts the presenter to ask (tongue firmly in cheek) if everything is alright. To which, there is just a cheeky smile from Malik.
Karachi have retained their star all-rounder from season one, Ravi Bopara.
Before Karachi's pick, Chris Gayle and the owner of the side are called up to the stage. In true Gayle style, he says "it takes a King to be a part of the Karachi Kings" and that is how the Universe boss just became Karachi boss.
It will be Brendon and Bravo once again as DJ has been snapped up by Lahore.
Brendon McCullum walks up on stage and reveals that the people involved were what struck him most about Lahore Qalandars. McCullum says "they have already got off to a great start to the draft".
Reigning champions have gone for Sharjeel Khan as their first Diamond pick.
West Indies T20 captain Carlos Brathwaite is Quetta's first Diamond pick.
Quick recap of how the draft works. The order of who picks first in each category has already been decided and each side have five minutes to pick the player they want.
The next Diamond pick is to Peshawar Zalmi, who have gone for Shakib Al Hasan.
Mohammad Amir is Karachi's first Diamond pick.
The first pick of the Diamond round goes to Lahore Qalandars who have snapped up Sohail Tanvir.
Quick recap of the Platinum round picks:
Lahore picked Brendon McCullum, Sunil Narine and Umar Akmal
Karachi went for Chris Gayle, Kieron Pollard and Shoaib Malik
Peshawar have gone for Shahid Afridi, Eoin Morgan and Wahab Riaz.
Kevin Pietersen, Sarfraz Ahmed, Ahmed Shehzad went to Quetta
Islamabad picked Misbah, Shane Watson and Andre Russell.
Before we go into the next round, there will be a small break.
The Platinum pick ends with Islamabad picking Andre Russell.
The penultimate Platinum pick goes to Quetta, who have gone for Ahmed Shehzad
Three more Platinum players remaining and Peshawar Zalmi have chosen Wahab Riaz.
The final pick for Karachi Kings in Platinum is Shoaib Malik
Lahore have retained Umar Akmal as their last pick from Platinum.
Reigning champions Islamabad United have picked Shane Watson.
Quetta Gladiators have named their new captain in Sarfraz Ahmed.
Peshawar Zalmi have chosen Eoin Morgan as their pick.
Karachi Kings have chosen Kieron Pollard as their pick from round two.
The first pick from round 2 is Sunil Narine, who goes to Lahore Qalandars
Surprise, Surprise, Islamabad United have retained their PSL-winning captain Misbah ul Haq
Quetta Gladiators, who have the fourth pick, have chosen to retain Kevin Pietersen.
Peshawar Zalmi have the third pick and have gone for Shahid Afridi.
The second pick goes to Karachi Kings who have decided to pick Universe boss, Chris Gayle.
Lahore have chosen Brendon McCullum as their first pick.
Lahore Qalandars have the first pick.
And we are officially underway. The first three rounds will be Platinum, which is the highest pay grade. The base price will be the same as last year.
IT'S OFFICIAL. The final of PSL 2017 will be held in Lahore. That's the biggest news from the draft so far and the actual draft itself will start in a few minutes.
PSL chairman Najam Sethi speaks about the need to bring cricket back to Pakistan and says the PSL final happening in Lahore is a step in that direction.
Then there is a walk through memory lane as there is a video of last year's draft and culminates in Islamabad United clinching the title.
And we are finally done with the anthems of all the teams which now means we are getting underway with the draft, which the presenter explains will be done in two languages, English and Urdu.
And that is followed by the Lahore Qalandars anthem. They will be hoping for a better tournament this time around having finished last in the inaugural edition of the tournament.
Next up is the anthem of Karachi Kings, who finished fourth last season.
And we kick the event off with an eye-catching lightsaber and some slick moves from performers dancing to some feet-tapping music.
And it has finally happened. Former Pakistan stars Rameez Raja, Wasim Akram are handling the pre-draft talk. WE ARE FINALLY LIVE.
The official Twitter handle of PSL tweeted that a couple of minutes so that should mean we should be up and away in a few mins. But, I for one am not holding my breath and will bring you all the action as it unfolds.
And we are finally underway. err. Sorry about jumping the gun there. What I meant was, we are going to be underway, soon. Real soon. How soon? I am not sure.
Great news everyone, we will get underway soon.
The burning question ahead of the PSL 2017 Draft is who will pick first? Although the order of players will go based on the categories, here is the order in which the players will be picked.
1. Lahore Qalandars
2. Karachi Kings
3. Peshawar Zalmi
4. Quetta Gladiators
5. Islamabad United
The event will be broadcast live on www.youtube.com/psl
There are 74 players in the Silver category, 33 players in the Diamond category and 28 in Platinum.
There are 255 players in the Silver category.
Here is the list of players in the Emerging category: Saif Badar, Ahmed Safi, Danish Aziz, Fahim Ashraf, Ghulam Mudassar, Hassan Khan, Hasan Mohsin, Hasan Raza, Hayatullah, Hussain Talat, Imran Butt, Irfan Liaqat, Irfanullah Shah, Karamat Ali, Ahmed Bashir, Noor Wali, Sameen Gul, Saud Shakeel, Shadab Khan, Umair Masood, Usman Liaqat, Usman Shanwari, Zeeshan Malik, M. Qaiser Ashraf
Among the 414 players, there are 24 players in the Emerging category.
The PSL 2017 draft which will take place at The Dome, Dubai Sports City is less than two hours away.
As far as the draft is concerned, each team needs to pick 16 players and have a quota of 5 international players in their squad. The tournament will take place next year with the final taking place at the Gaddafi Stadium in Lahore while the draft is taking place in Dubai.
In retained player news, Kumar Sangakkara has been appointed as mentor and captain of the Karachi Kings, who also picked up Babar Azam and Chris Gayle. Pakistan regulars such as Shoaib Malik, Imad Wasim and Mohammad Amir have also been retained for the second edition.
A quick recap of things will go in the draft. The players have been split into four categories - Platinum, Diamond, Gold and Emerging and the five teams taking part in the second edition of the tournament, Karachi Kings, Lahore Qalandars, Quetta Gladiators, Peshawar Zalmi and reigning champions Islamabad United will have to take their pick.
A whopping 414 players will take part in the PSL 2017 draft and the action isn't too far away.