RIYADH: Indian wicketkeeper-batsman Rishabh Pant became the most expensive player in the history of the Indian Premier League (IPL) on Sunday when he was sold for a record $3.2 million, as teams snapped up world-class cricketers for the lucrative Twenty20 tournament.
A total of 577 players will compete in the two-day auction in Jeddah, with notable names including Pant, England veteran James Anderson and New Zealand all-rounder Rasheen Ravindra.
The 2023 record of Rs 247.5 million paid by Kolkata for Australian Mitchell Starc was breached for the first time by the Punjab Kings, who the Indian Premier League said had snapped up Shreyas Iyer for a “handsome” Rs 267.5 million ($3.17 million).
Iyer, 29, led Kolkata Knight Riders to their third IPL title this year.
New Punjab coach Ricky Ponting, who left Delhi Capitals after this season, said they would make Shreyas captain if he agreed.
“I worked with him for three or four years in Delhi and he is clearly the captain of the championship-winning team since last season,” Ponting said.
“We have someone there who can do the job if that’s the way we decide to go, so I’m happy to have him back.”
Shreyas’ record declined rapidly.
Lucknow Super Giants paid a “huge” sum of Rs 270 million for 27-year-old star keeper Pant, the IPL reported.
“Rishabh’s history in the Indian Premier League and in cricket is unparalleled in terms of his skill and what he brings to the table,” Lucknow owner Shashwat Goenka said of the record purchase.
“I think he has lived up to what we expected of him. We are very excited to have him as part of the team.”
Pant made a remarkable return to competitive cricket in this year’s Indian Premier League after being involved in a serious car accident in December 2022.
He came as captain of Delhi Capitals but he and the team parted ways.
Later in the day, Indian all-rounder Venkatesh Iyer hit the jackpot as he went to Kolkata for a whopping $2.81 million after a fierce bidding war with Royal Challengers Bengaluru.
Venkatesh, the right-arm medium-pace bowler who was released by Kolkata to be bought back, became the third highest buy of the day.
Noisy start
The auction started on an exciting note when Indian fast bowler Arshdeep Singh started a bidding war, which ended with Punjab getting the left-arm bowler for $2.13 million.
This year, Kolkata did not retain Australian fast bowler Starc, and he went to Delhi for $1.39 million.
Fellow fast bowler Josh Hazlewood went for $1.48 million to Bengaluru, while England fast bowler Jofra Archer cost the same amount for Rajasthan Royals.
New Zealand speedster Trent Boult has returned to the five-time winning team Mumbai Indians for $1.48 million.
Afghan pacer Noor Ahmed earned a big payday when he went to five-time champions Chennai Super Kings for $1.18 million.
Gujarat Titans paid $1.87 million for England white-ball skipper Jos Buttler, while India bowler Mohammed Shami went to Sunrisers Hyderabad for $1.18 million.
Australian David Warner and Englishman Jonny Bairstow were not sold, but could be returned later at auction.
The Indian Premier League has generated billions in revenue since its inception in 2008, turning the Board of Control for Cricket in India (BCCI) into one of the richest governing bodies in the sport.
In June 2022, it sold the broadcast rights for five seasons of the Indian Premier League to global media giants for $6.2 billion.
The Bahrain Chamber of Commerce and Industry sought to expand the scope of the tournament by organizing the auction abroad.
It was held last year in Dubai, which regularly hosts international cricket tournaments.
Like Saudi Arabia, it has a large potential fan base among its population of migrant workers.
Holding the auction in Jeddah is seen as a win-win for a tournament that expands its global reach and for a kingdom that uses sport to improve its image.
The Indian Premier League is a huge asset to Indian cricket, and the tournament generates over $11 billion for the economy every year.
The groundbreaking IPL helped make Twenty20 cricket hugely popular, spawning copycat events around the world.
The dates for next year’s IPL have not been announced but the seasons usually run from March to May.