Hardik Pandya’s homecoming is complete as the star Indian all-rounder has moved base from Gujarat Titans in a mega trade ahead of the mini-auction on December 19. After leading Gujarat Titans for two seasons in 2022 and 2023, Pandya enjoyed a lot of success with his new team but has now returned to the team where his IPL journey got underway in the 2015 edition where he was picked up for Rs 10 lakh.
As per the official release by the IPL, Pandya’s transfer has been finalised at Rs 15 crore, his existing fees and the same amount will be deducted from MI’s purse and added to GT’s purse ahead of the mini-auction in December this year.
The said amount is something which MI had to manage from their purse and that is why they had no option but to release names like Chris Jordan, Duan Jansen, Hrithik Shokeen, Jhye Richardson, Jofra Archer, Mohd. Arshad Khan, Raghav Goyal, Ramandeep Singh, Roley Meredith, Sandeep Warrier, Tristan Stubbs and then trade Cameron Green to Royal Challengers Bangalore for Rs 17.50 crore.
After the last auction, MI were left with only Rs 0.05 crore in their purse and even the additional Rs 5 crore ahead of the mini-auction wouldn’t have made the Pandya trade possible.
Gujarat Titans on the other hand can look at it as a “business deal” where they let go of their captain and star player, got some money to spend in the auction and also added more to their kitty with a ‘Negotiated Increase’, if any.
Now, what is ‘Negotiated Increase’?
Without going into the jargon of the “BCCI Player Regulation”, a “Negotiated Increase” is the amount over and above the annual fees, Rs 15 crore in Pandya’s case. The increased transfer value in that case is a legal transaction and allows the seller (Gujarat Titans) and player (Pandya) to get richer.
With one year still left in Pandya’s original contract with GT, buyer MI have to compensate them with the “Negotiated Increase” for one year. Had the deal happened next year, GT wouldn’t have got the increased fees.
For instance, if Pandya’s transfer value is fixed at Rs 20 crore after discussions between MI and GT then only a maximum of 50% difference amount – Rs 5 crore in this case – will go to the player and the remaining would be a gain for GT. That gain, however, will not reflect in their purse for the auction. There is no limit set for the “Negotiated Increase”
“Let’s look at it this way. It’s a business deal struck between two franchises for a top player. One team is letting go of their player and if they seek a premium for that deal, a maximum of 50% of that would be shared with the player and the remainder would go to the seller. The negotiated increase value will be paid by the buying team but only the annual fees will be deducted from the annual fees,” says an industry source tracking developments.
The “business deal” now gives GT a purse of Rs 38.15 crore for the auction and MI, with trades of Pandya and Green, have got the player they wanted and also a purse of Rs 17.75 crore to fill in the crucial blanks at the mini-auction next month. RCB, the third party which was active after the release and retention deadline ended, acquired the services of Green and still has Rs 23.25 crore to give shape to their bowling attack now.
Updated Squads:
Gujarat Titans: Abhinav Sadarangani, B. Sai Sudharsan, Darshan Nalkande, David Miller, Jayant Yadav, Joshua Little, Kane Williamson, Matthew Wade, Mohammad Shami, Mohit Sharma, Noor Ahmad, R. Sai Kishore, Rahul Tewatia, Rashid Khan, Shubman Gill, Vijay Shankar, Wriddhiman Saha
Mumbai Indians: Akash Madhwal, Arjun Tendulkar, Dewald Brevis, Ishan Kishan, Jason Behrendorff, Jasprit Bumrah, Kumar Kartikeya Singh, N. Tilak Varma, Nehal Wadhera, Piyush Chawla, Rohit Sharma, Romario Shepherd (T), Shams Mulani, Surya Kumar Yadav, Tim David, Vishnu Vinod, Hardik Pandya (T)
Royal Challengers Bangalore: Akash Deep, Anuj Rawat, Dinesh Karthik, Faf Du Plessis, Glenn Maxwell, Himanshu Sharma, Karn Sharma, Mahipal Lomror, Manoj Bhandage, Mayank Dagar (T), Mohammed Siraj, Rajan Kumar, Rajat Patidar, Reece Topley, Suyash Prabhudessai, Virat Kohli, Vyshak Vijay Kumar, Will Jacks, Cameron Green (T)
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