IPL Auction: Big pay-day for the Iyers and a fresh start for Pant

IPL Auction: Big pay-day for the Iyers and a fresh start for Pant

The IPL auction in Jeddah saw Kolkata Knight Riders (KKR) shatter the glass ceiling with a high-stakes bid of INR 23.75 crore for Madhya Pradesh all-rounder Venkatesh Iyer. This eye-popping acquisition makes Venkatesh the team's highest-priced player and the third-costliest in the IPL, following Rishabh Pant and Shreyas Iyer.

Venkatesh's performance last season, when KKR clinched the championship, was commendable, with 370 runs in 14 games, averaging over 46 and a strike rate exceeding 158. These figures justified the trust placed in him by the KKR management, who preferred him over exceptional Shubman Gill for the 2022 retention.

KKR CEO Venky Mysore explained the team's focus on maintaining continuity and retaining familiar faces. He revealed that Venkatesh had given the management an ultimatum, stating that he would be sad if they did not bid for him. KKR broke the bank to secure his services, making him more valuable than big stars like Virat Kohli, Jasprit Bumrah, Rohit Sharma, Suryakumar Yadav, and Hardik Pandya.

Rishabh Pant secured INR 27 crore from Lucknow Super Giants (LSG), while Shreyas Iyer earned INR 26.75 crore from Punjab Kings. LSG owner Sanjiv Goenka has a reputation for going to any length to secure what they target, and the INR 27 crore bid for Pant marked a stunning move.

Former Delhi Capitals coach Ricky Ponting, who worked with Pant, expressed his admiration for the wicketkeeper-batsman but preferred Shreyas Iyer, who shares a strong rapport with him. Shreyas ultimately ended up with Punjab Kings for INR 26.75 crore.

The auction saw hefty sums commanded by spinners Yuzvendra Chahal (INR 18 crore by PBKS) and R Ashwin (INR 9.75 crore by CSK), underscoring the scarcity of quality spin options in the market.

The Day One of the mega auction may have belonged to Punjab Kings, who are under new leadership and aiming to turn their fortunes around in the league.