On Sunday, November 24, the star India National Cricket Team middle-order batsman Shreyas Iyer became the most expensive player in the history of the Indian Premier League (IPL) for a few minutes.
Shreyas Iyer was roped in by the Punjab Kings (PBKS) for a whopping INR 26.75 crore, and it was the biggest bid ever in the history of the Indian Premier League auction before Lucknow Super Giants spent INR 27 crore to acquire Rishabh Pant.
Shreyas Iyer breaks Mitchell Starc’s record
Iyer led the Kolkata Knight Riders (KKR) to the title win in the Indian Premier League (IPL) 2024. However, he was not retained by the franchise as the duo couldn’t reach a financial agreement, as per reports.
After releasing Iyer, KKR retained Rinku Singh, Andre Russell, Varun Chakaravarthy, Sunil Narine, Harshit Rana and Ramandeep Singh.
Meanwhile, as Shreyas Iyer’s name came at auction, Kolkata Knight Riders instantly bid for him, and they were further engaged in a bidding war with Punjab Kings.
KKR pulled out of the race at INR 10 crore and Delhi Capitals joined the battle. DC and PBKS were desperate to rope in Iyer and they went all-out. In the end, it was the Punjab Kings franchise that was successful in acquiring Iyer as they spent a whopping INR 26.75.
Iyer broke Mitchell Starc’s record to become the most expensive player in IPL history for some time before Rishabh Pant broke his record.
Most expensive players in the IPL auction (in INR):
27.00 cr – Rishabh Pant (LSG, 2025)
26.75 cr – Shreyas Iyer (PBKS, 2025)
24.75 cr – Mitchell Starc (KKR, 2024)
20.50 cr – Pat Cummins (SRH, 2024)
18.50 cr – Sam Curran (PBKS, 2023)
18 cr – Arshdeep Singh (PBKS, 2024)
Here’s how fans on X reacted after Shreyas Iyer became the most expensive player in IPL history:
This bidding war for Shreyas Iyer tells us why Delhi and Punjab are still trophyless.
— Dhruv (@I_m_dhruv_) November 24, 2024
The reunion of Ricky Ponting and Shreyas Iyer.
– From Delhi to Punjab…!!! pic.twitter.com/4Lv8Lkscnw
— Mufaddal Vohra (@mufaddal_vohra) November 24, 2024
🚨 HISTORY IN JEDDAH…!!! 🚨
– Shreyas Iyer sold to Punjab Kings at a record breaking 26.75cr. 🤯🏆 pic.twitter.com/uOWCXlknFs
— Mufaddal Vohra (@mufaddal_vohra) November 24, 2024
Punjab Kings ❌️
Punjab Clowns ✅️Who even spends 26.75 fking crores on Shreyas Iyer? 🤯 pic.twitter.com/XHmidhsxLb
— Dinda Academy (@academy_dinda) November 24, 2024
Delhi just made the auction far better for everyone, Punjab Kings fell right into the trap.
This man will haunt Punjab dreams when Iyer strikes at less than 130 all season. pic.twitter.com/V0IYbzZxrQ
— The Cricket Podcast (@TheCricketPod) November 24, 2024
Reason why teams like Punjab can never win anything, group of donkeys sitting for the auction
Buying Iyer for 26.75cr is crime even anyone with little cricket knowledge won’t do such blunders#IPLAuction
— Chikatlo Chindulestha (@chikati_rajyam) November 24, 2024
Shreyas Iyer has been sold to Punjab Kings at a record breaking 26.75 cr!
Unreal auction in Jeddah. Has Punjab Kings committed stupidity or the gamble will pay off? pic.twitter.com/Sc5cFdx0la— Basit Subhani (@BasitSubhani) November 24, 2024
DSP Siraj arresting Shreyas Iyer for robbing Punjab Kings of 27 crores pic.twitter.com/rY3DlYuJcd
— Ebuka (@iamsportsgeek) November 24, 2024
The amount Punjab spent on Shreyas Iyer, they should have spent on Rishabh Pant…. Utterly ridiculous
— Gappistan Radio (@whyteknight07) November 24, 2024
How many slots were open across teams?
Heading into the IPL 2025 mega auction, there were 204 slots available across the 10 franchises with each team allowed a maximum squad size of 25 players and a minimum of 18. Of the total slots, 70 were designated for overseas players.
Punjab Kings, with just two retained players, enter the auction with the most room to maneuver. They had a place for 23 players, including a full quota of eight overseas stars. In contrast, Rajasthan Royals and Kolkata Knight Riders had the least flexibility, with only 19 slots each.
Chennai Super Kings, Sunrisers Hyderabad, Gujarat Titans, Lucknow Super Giants, and Mumbai Indians, after their retentions, had 20 slots available, varying slightly in their capacity for overseas additions.
Meanwhile, Delhi Capitals and Royal Challengers Bengaluru headed in with 21 and 22 slots, respectively, both capable of signing the maximum eight overseas players.