Rishabh Pant Breaks IPL Auction Record with INR 27 Crore Deal to Lucknow Super Giants

In a thrilling start to the IPL 2024 mega auction, Rishabh Pant made history by becoming the most expensive player in the tournament’s history, with Lucknow Super Giants (LSG) securing his services for a staggering INR 27 crore (USD 3.2 million). Pant’s acquisition surpassed the previous record of INR 26.75 crore set by Punjab Kings (PBKS), who had earlier secured Shreyas Iyer for a similar amount.

Both LSG and PBKS were on the lookout for new captains this season, and Pant and Iyer are expected to fill those roles for their respective teams. Pant’s deal broke the previous record held by Kolkata Knight Riders (KKR), who had bid INR 24.75 crore for Mitchell Starc during the IPL 2024 auction.

The bidding for Pant started fiercely, with LSG and Royal Challengers Bangalore (RCB) among the first to jump in. Sunrisers Hyderabad (SRH) soon joined the race, pushing the price up to INR 20.75 crore. At this point, SRH dropped out, and Pant was on the verge of being sold to LSG. However, Delhi Capitals (DC) exercised their Right to Match (RTM) option, as per new auction rules. This allowed LSG a final chance to increase their bid, which they did, taking the price to INR 27 crore. DC ultimately decided not to match this bid, and Pant was officially sold to LSG.

Meanwhile, Shreyas Iyer, the third marquee player on auction, also caused a stir. Kolkata Knight Riders (KKR), eager to buy back their title-winning captain, began the bidding but dropped out at INR 10 crore. It then became a contest between DC and PBKS, both of whom were in desperate need of a new captain. PBKS, with the largest purse of INR 110.5 crore, won the battle at INR 26.75 crore.

PBKS also made a notable purchase early in the day, exercising their RTM option to buy back fast bowler Arshdeep Singh for INR 18 crore. This followed a competitive bidding war with SRH, who raised their final offer to INR 18 crore before PBKS secured the deal.

The day also saw other key players finding new homes. Rajasthan Royals (RR) attempted to buy back wicketkeeper-batsman Jos Buttler, but their efforts were unsuccessful. After competition from PBKS and LSG, Gujarat Titans (GT) successfully acquired Buttler for INR 15.75 crore (USD 1.88 million), where he will join Shubman Gill at the top of their batting order.

Fast bowler Mitchell Starc also found a new home, after KKR and Mumbai Indians (MI) dropped out of the bidding. Delhi Capitals (DC) ultimately acquired Starc for INR 11.75 crore, marking a significant pay cut from his record price of INR 24.75 crore last year.

Gujarat Titans (GT), who began the auction with INR 73 crore in their purse, made another significant purchase, signing South African fast bowler Kagiso Rabada for INR 10.75 crore after outbidding RCB and MI.

As the first day of the IPL 2024 auction came to a close, it was clear that the season ahead will be filled with fresh faces and high-stakes battles for the coveted IPL trophy.