Indian wicketkeeper Rishabh Pant became the most expensive player in Indian Premier League (IPL) history on Sunday when he sold for a record $3.2 million, as teams splashed out on world-class cricketers for the lucrative T20 tournament.
A total of 577 players are up for grabs at the two-day auction in Jeddah, with Pant, England veteran James Anderson and New Zealand all-rounder Rachin Ravindra among the top names.
The 2023 record of $2.98 million Kolkata paid to Australian Mitchell Starc was first breached by Punjab Kings, who the IPL said snapped up Shreyas Iyer for a “handsome” $3.17 million.
Iyer, 29, captained Kolkata Knight Riders to their third IPL crown this year.
But that record rapidly tumbled.
The IPL reported Lucknow Super Giants paid a “gigantic” $3.2 million for 27-year-old star keeper Rishabh Pant.
The auction started on a sizzling note when Indian quick Arshdeep Singh’s name began a bidding war, which ended with Punjab getting the left-arm pace bowler for $2.13 million.
This year, Australian left-arm quick Starc was not retained by Kolkata — and went to Delhi Capitals for $1.39 million.
Gujarat Titans paid $1.87m for England white-ball skipper Jos Buttler, while India pace bowler Mohammed Shami went to Sunrisers Hyderabad for $1.18 million.
Shami, 34, has recovered from a foot injury and is expected to join the Test team in the ongoing series in Australia.
Before bidding began, Rajasthan Royals coach Rahul Dravid said managers had done the groundwork but bidding on the day meant nothing could be taken for granted.
“You can prepare […] you have a lot of discussions around the players and the tactics that you might employ,” Dravid said, according to the IPL.
“But being realistic, you have to be able to think on your feet a little bit.” Punjab Kings coach Ricky Ponting, the former Australia skipper, said there was “huge excitement” but keeping cool during the bidding was critical.
“I think being really really calm, and really clear, at the auction table is a really important thing,” Ponting said.
The IPL has generated billions in revenue since its inception in 2008, turning the Board of Control for Cricket in India (BCCI) into one of the richest governing bodies in sport.
In June 2022 it sold the broadcast rights for five IPL seasons to global media giants for $6.2 billion.
The BCCI has sought to broaden the tournament’s profile by staging the auction abroad.
Last year it was held in Dubai, a regular host for international cricket tournaments.
Like Saudi Arabia, it has a large base of prospective fans among its migrant worker population.
Putting the auction on in Jeddah is seen as a win-win for a tournament expanding its global reach and a kingdom using sports to improve its image.
Crown Prince Mohammed bin Salman has backed extravagant sports investments — Saudi Arabia is the sole candidate for hosting the football World Cup in 2034 — to diversify its oil-rich economy.
Critics point to Saudi Arabia’s human rights record and the murder of journalist Jamal Khashoggi in the Saudi consulate in Istanbul in 2018, accusing the kingdom of “sports-washing”.
But Saudi Cricket Federation chairman Prince Saud bin Mishal said staging the auction reflected the kingdom’s “commitment to developing the sport and showcasing its position as a global destination for sporting events”.
The IPL is a huge earner for Indian cricket and the tournament is estimated to make more than $11bn for the economy each year.
The pioneering IPL helped make Twenty20 cricket hugely popular, spawning similar events worldwide.
Dates for next year’s IPL have not been released but seasons usually run from March to May.
