(Image source from: Twitter.com/IPL)

Rishabh Pant has become the most expensive player in the IPL auction history, being purchased by the Lucknow Super Giants (LSG) for around $3.21 million. This exceeds the previous record set by Punjab Kings, who bought Shreyas Iyer for $3.18 million just minutes earlier. Both teams were in need of new captains this season, and Pant and Iyer are likely to fill those roles. The bidding for Pant started between LSG and Royal Challengers Bangalore (RCB), with Sunrisers Hyderabad (SRH) also joining the race. SRH and LSG reached a bid of $2.47 million, at which point SRH dropped out and LSG secured Pant. Delhi Capitals (DC) then tried to use their right-to-match option to get Pant back, but LSG increased their bid to retain him.

The Lucknow Super Giants team successfully acquired Rishabh Pant for a record price of 27 crores, which was higher than the Delhi Capitals' bid. The LSG owner, Shashwat Goenka, stated that this outcome was in line with their plan, as they simply wanted a certain number to prevent the use of the Right to Match option. Shreyas Iyer was the third marquee player up for auction, and Kolkata Knight Riders initially tried to reacquire their former captain, but they withdrew their bid at 10 crores. Subsequently, Delhi Capitals and Punjab Kings competed for Shreyas, with Punjab Kings emerging as the winners with a bid of 26.75 crores. The new Punjab Kings coach, Ricky Ponting, expressed his delight at the opportunity to work with Shreyas again, having previously collaborated when Shreyas played for Delhi Capitals.

Ravichandran Ashwin has previously demonstrated his skills as a successful IPL team captain. They collaborated for 3-4 years in Delhi, and Ashwin's team won the championship last season. The speaker is thrilled to work with Ashwin again and hopes that he can replicate that success for their team in the upcoming IPL season.

KL Rahul was the third major Indian batsman in the auction, and while several teams bid for him, he was ultimately sold to DC for around $1.67 million. His previous team, LSG, did not use the Right To Match (RTM) option to retain him. The biggest surprise on the first day was the intense bidding for allrounder Venkatesh Iyer, who was eventually sold to his former team KKR for around $2.83 million, making him their most expensive retained player. Rajasthan Royals tried but failed to buy back Jos Buttler, who was eventually acquired by GT for around $1.88 million to partner with Shubman Gill and keep wicket for the team.

The cricket auction saw GT as the top bidder, acquiring South African fast bowler Kagiso Rabada for around $1.28 million and Mohammed Siraj for $1.46 million. Meanwhile, DC outbid KKR and MI to sign Mitchell Starc for $1.40 million, which was significantly less than his previous record price of $2.98 million.