Swashbuckling Indian wicketkeeper-batsman Rishabh Pant became the most expensive player in the history of the Indian Premier League with the Lucknow Super Giants bidding ₹27 crore in the ongoing players auction.
Pant has been with the Delhi Capitals for many years. In 2023, the Delhi Capitals retained Rishabh Pant for ₹16 crore. In 2018, Pant’s price was ₹8 crore.
Before the auction started on Sunday, Australian fast baller Mitchell Starc held the record for the most expensive player with a price tag of ₹24.75 crore in the previous auction. Indian batsman Shreyas Iyer was the first to break Starc’s record when Punjab Kings (PBKS) acquired him for ₹26.75 crore. Moments later Pant overtook Iyer as the most expensive player in IPL.
Experts said the big bucks being offered to the players is justified as the teams will earn more with star cricketers on their side. “A lot of the IPL auctions run on the player’s current form and what they expect them to do for the period they’re buying them. Rishabh Pant has been on fire in the recent past. Also given that a lot of Indian super-stars like Virat Kohli and Rohit Sharma on the tail-end of their careers, Rishabh is a very well sought-after guy. He’s possibly one of the most key players, So, for LSG it makes sense to acquire him if they want to rekindle their hopes of winning IPL,” Lloyd Mathias, Marketer & Business Strategist told businessline.
“As long as you are in the top 3-4 teams, you’re likely to attract sponsors. So the economics are very positive for franchises. They can afford to splurge, specifically if they are lacking a super-star or they want to change the dynamics of their team drastically,” said Mathias.
Similarly, Ajimon Francis, Managing Director of Brand Finance India, said that the payments for the players should be considered in the context of international sporting brands as well, considering the speed at which IPL is growing.
“From a sporting brand perspective, we’re still a fraction of the English Premier League [EPL] and LaLiga, etc. The kind of contracts that people get in soccer and football is phenomenal. So, I think it is fairly prudent to look beyond Indian shores to see whether these players are getting the right deals or not. If you look at franchise reports, you’ll see superb profits, despite paying phenomenal money. Last year, Kolkata Knight Riders [KKR] were criticised for paying ₹24.75 crore for Mitchell Starc but now KKR is in huge profits,” said Francis.
Top Indian buys
Rishabh Pant to Lucknow Super Giants for ₹27 crore.
Shreyas Iyer to Punjab Kings for ₹26.75 crore.
Venkatesh Iyer to KKR for ₹23.75 crore
Arshdeep Singh to Punjab Kings for ₹18 crore.
Yuzvendra Chahal to Punjab Kings for ₹18 crore.
KL Rahul to Delhi Capitals for ₹14 crore.