Shreyas Iyer set a new record in IPL when Punjab Kings (PBKS) acquired him for a jaw-dropping Rs 26.75 crore. IPL 2025 auction began with Kolkata Knight Riders (KKR) placing an opening bid of Rs 2 crore, followed by Punjab Kings at Rs 2.20 crore.
KKR then backed out, and Delhi Capitals (DC) joined the bidding, pushing the price to Rs 25 crore. After a fierce battle between the two franchises, Punjab Kings ultimately secured the 29-year-old, making this one of the biggest bids in IPL history.
Shreyas Iyer's bid of Rs 26.75 crore briefly made him the most expensive player in IPL history, until Rishabh Pant was picked up by Lucknow Super Giants for a record-breaking Rs 27 crore.
Meanwhile, Punjab Kings head coach Ricky Ponting has rated Shreyas Iyer as the ideal choice to lead Punjab Kings in IPL 2025.
"I've worked with him in the past in Delhi (Capitals); he's been a successful captain in the IPL before," said Ponting in a mid-auction press meet.
"Obviously, he's a championship-winning captain from last season. We've got someone there who can do the job if that's the way we decide to go," he said.
Ponting also highlighted Iyer's unbeaten 130 for Mumbai in Syed Mushtaq Ali Trophy on Saturday.
"I'm delighted to have him back and work with him. He also got a good 57-ball 130 not out in the Syed Mushtaq Ali Trophy yesterday. If he can do that for us in the IPL, I think we all will be happy," added Ponting.
Apart from acquring Shreyas Iyer for record bid, Punjab Kings, who entered the auction with highest purse, purchased pacer Arshdeep Singh and veteran leg-spinner Yuzvendra Chahal. Ponting said PBKS have "hit their targets".
"The thing with the auction is that you just have to be flexible and move with the way the auction goes. We had some targets coming in and hit those three targets so far."