Hardik Pandya's Rs 15 crore trade to Mumbai Indians to be biggest transfer deal in IPL history

It is anticipated that this one-way, all-cash move involving Hardik Pandya will be the largest transfer deal in IPL history.

It is anticipated to be confirmed on Sunday, the final day for the teams to retain and release players, although neither the Gujarat Titans, the team Pandya captained for the previous two seasons, nor the Mumbai Indians have made it official.

Pandya will now want Mumbai Indians to pay him Rs 15 crore, while Gujarat Titans will receive the same amount under their salary ceiling.

In addition to the transfer fee that Gujarat Titans will earn for freeing Pandya, the player is eligible to receive up to 50% of the remaining funds. The franchisees and the BCCI will decide whether to reveal this sum.

The Mumbai Indians' pay cap will also be reduced by Rs 15 crore.

The percentage of any increase in the yearly League Fee to be agreed as part of the trade (the "Negotiated Increase") which shall be paid to the player (the "Player Percentage") will be specified on the consent form after it is signed. The remaining portion of the Negotiated Increase (the "Franchisee Percentage") will be paid to the selling Franchisee, with the Player Percentage never exceeding 50% of that amount.

"The Player will unconditionally agree to sign a new Player Contract with any other Franchisee for his original League Fee plus the agreed Player Percentage of any Negotiated Increase that may be agreed upon between any buying Franchisee and the selling Franchisee," reads another clause in the BCCI's Player Regulation policy. In exchange for the agreed Franchisee Percentage of the Negotiated Increase, the selling Franchisee will unconditionally agree to release the player from his current contract.

In the event that Pandya's Negotiated Increase is Rs 40 crore, the Titans may split up to 50

% of the amount with Pandya, but its player purse won't be affected by that.

It was discovered that the Mumbai Indians will not make a trade-off offer of any players. The team will need to release players in order to make up the difference between its salary cap. They might decide to release Jofra Archer (Rs 8 crore) and Cameron Green (Rs 17.5 crore).

December 19 in Dubai is the date of the auction. Every franchise will receive an extra Rs 5 crore in their coffers. The Mumbai Indians' bank account was down to barely Rs 5 lakh following the most recent sale.

Pandya participated in the 2015, 2017, 2019, and 2020 title-winning campaigns for the Mumbai Indians. The all-rounder will most likely be elevated to the captaincy if Rohit Sharma chooses to step down from the position.

There have been rumors of Pandya returning to the Mumbai Indians ever since.

During the previous IPL, however, both teams remained silent about the matter.

The Mumbai franchise released Hardik prior to the 2022 big auction. Only four players could be retained by each franchise, and Rohit Sharma, Jasprit Bumrah, Suryakumar Yadav, and Kieron Pollard were the ones they decided to hold onto. At the auction, their bid for Ishan Kishan was successful.

Global investment manager CVC Capital Partners owns the Gujarat Titans, who entered

as of 2021. Before the big auction, they selected Pandya (worth Rs. 15 crore), Rashid Khan (of Rs. 15 crore), and Shubman Gill (worth Rs. 7 crore) from the group of players released by other teams.

To play for SRH is Shahbaz.

Bengal's Shahbaz Ahmed, a left-arm spinner, will represent Sunrisers Hyderabad in the 2024 Indian Premier League.

Mayank Dagar was transferred to Sunrisers in exchange for Shahbaz, who played for Royal Challengers Bangalore in the previous few seasons.

The spinner was able to participate in three ODIs and two T20Is because to his IPL performance.

Harshal Patel and Wanindu Hasaranga are also anticipated to be released by RCB.

Hasaranga participated in just eight of the 14 games during the previous season due to a hamstring injury that kept him out of the ODI World Cup. Patel was included in the Indian team for the 2022 T20 World Cup, however he did not play in any games. In the IPL 2023, he grabbed 14 wickets at an economy rate of 9.65.

Rumor has it that Tim Southee, Lockie Ferguson, and Shardul Thakur will be released by KKR. The final decision will be made by mentor Gautam Gambhir.

Except for the headline, this story has not been edited by Press Time staff and has been published from a syndicated feed.