Mumbai Indians (MI) and Punjab Kings (PBKS) have completed a high-profile trade involving Hardik Pandya and Arshdeep Singh ahead of the IPL 2027 auction.
Hardik, who has captained MI since 2024, will join PBKS for INR 18 crore, an increase from his existing fee of INR 16.35 crore. Arshdeep, meanwhile, moves in the opposite direction to the five-time champions at his existing fee of INR 18 crore.
The move brings an end to Arshdeep's eight-season association with PBKS, the only franchise he has represented since making his IPL debut in 2019. The left-arm pacer featured in 96 matches for the side, taking 111 wickets to become Punjab's leading wicket-taker in the tournament's history. His performances in the IPL, coupled with his record as India's leading wicket-taker in T20 internationals, make him a valuable addition to an MI bowling attack that already boasts Jasprit Bumrah.
From a young sher to a name that made Punjab proud ❤️You'll always have a home here, Arsh paa 🫶 https://t.co/mndi0tHTWi
For Hardik, the move to PBKS will mark his third stint with an IPL franchise. He began his career with MI in 2015 and was part of four title-winning campaigns in 2015, 2017, 2019 and 2020. After seven seasons in Mumbai, he moved to Gujarat Titans (GT) ahead of IPL 2022 and made an immediate impact, leading the franchise to the title in its debut season. GT also reached the final in 2023 before Hardik returned to MI in 2024 and took over as captain.
His second stint as MI skipper, however, had mixed results. The team finished at the bottom of the table in 2024 before reaching the playoffs the following season. They slipped to ninth in 2026. In 39 matches under Hardik's leadership, MI registered 15 wins and suffered 24 defeats.
Through the highs, the lows, and everything in between, thank you for being a part of the Mumbai Indians story, Hardik.💙 https://t.co/pUqwrIwebi
Hardik's departure leaves MI with another major decision to make as they now face the task of appointing a new captain for the 2027 season. The franchise will also head into the new campaign with a revamped coaching staff. Kieron Pollard has taken over as head coach, replacing Mahela Jayawardene, while Robin Uthappa, Mitchell McClenaghan and T Dilip have been appointed batting, bowling and fielding coaches, respectively.
The trade is among the biggest moves ahead of the 2027 season, but more deals could follow before the pre-auction trading window closes on November 17. Franchises will be looking to finalise their squads before the auction, leaving the final week of the window potentially busy.