Sangakkara has also registered for another franchise-based T20 tournament - Masters Champions League (MCL) - that is expected to run concurrently with the PSL but at different venues in the UAE.

The inaugural PSL will feature five franchise-based teams from the provincial capitals - Lahore, Karachi, Peshawar, Quetta and Islamabad - with prize money of $1 million.

The tournament is scheduled to run from February 4 to 24 in Dubai and Sharjah, and will feature 24 matches.

The PCB has signed over 100 players, including big names such as Chris Gayle, Kieron Pollard, Dwayne Bravo, Kevin Pietersen and Shakib Al Hasan, for the draft.

"Sangakkara is a world-class sportsman and we are excited to welcome him on board," Najam Sethi, the head of PSL, said. "He brings a wealth of experience to the PSL. His inclusion makes the player draft even more exciting."