MI Paid ₹100 Crore: Hardik Pandya, India’s all-round star, has recently replaced Rohit Sharma as captain of Mumbai Indians (MI) for IPL 2024. Pandya had been retained by Gujarat Titans before Auction 2024 but was traded from GT to MI for a cash-only transaction, reportedly receiving Rs 100 crore plus Rs 15 crore per India Express report.

Titans also benefited financially from the transfer of a 30-year-old athlete. CVC Capital paid INR 5625 crore in 2021 to join IPL and is expected to see significant valuation gains by the fiscal year’s end.

Pandya took over as captain of MI following Rohit Sharma, who led them to five IPL titles between 2013 and 2019.

Rohit Sharma fans were outraged that MI chose Pandya as captain and started criticising them on X, previously known as Twitter, with the trend “ShameOnMI.”

Their dissatisfaction has so significantly damaged MI that they have lost over nine lakh Instagram followers.

Rohit’s departure as MI’s captain remains to be discovered. However, their decision has resulted in their following dropping from 13.2 million Instagram followers to 12,3 million on Instagram.

Sources have informed The Hindu that Pandya has stipulated as his condition for his return to Mumbai Indians that they offer him the captaincy position.

What will Gujarat Titans Make Of Rs 100 Crore?

CVC Capitals owns the Gujarat Titans. They made an initial payment of Rs 5625 crores (roughly £ 66 million) to BCCI for participation in IPL for ten years, which could increase in value thanks to Pandya deal earnings on their balance sheets by the end of this financial year and could cause their valuation to expand accordingly.

The Trade Deal

Hardik Pandya returned to Mumbai after leaving Gujarat Titans after Rohit Sharma decided not to continue as captain;

This decision led him to sign for MI ahead of IPL mega auctions 2022 and later as captain soon before auction 2024 – with both trades taking place via cash only transactions between MI and Gujarat Titans.

The Indian Express reported that both teams saw mutual advantages from this deal. Gujarat Titans is owned by CVC Capital, a prominent investment firm with 40 managing partners that saw the potential to earn substantial profits.

In contrast, Mumbai Indians, owned by an influential family, considered more than just financial considerations when deciding.

IPL gave the Gujarat Titans a generous transfer fee when selling Hardik Pandya to MI, estimated at over 100 crores, making this deal advantageous for their franchise.

Hardik’s Stint With The Gujarat Titans

Hardik Pandya left Mumbai Indians and joined Gujarat Titans for an astounding Rs 15 crore fee, becoming captain. Under Hardik’s direction, his team reached two consecutive IPL Finals, thanks to his batting and bowling performances. Hardik proved crucial to their success.

Hardik won the Player of the Match award at the final in 2022 for his performances as the Gujarat Titans’ top run scorer and top wicket-taker, scoring 833 runs over 31 IPL matches and picking up 11 wickets – solidifying his reputation as an invaluable member of any team.

The Profitable Trade

Gujarat Titans made the decision to trade Hardik Pandya to Mumbai Indians based on both team dynamics and financial gains.

CVC Capital recognized IPL’s lucrative potential and paid 5625 crores to become part of IPL 2022. They intend to capitalise on this popularity.

Mumbai, India’s decision-making was more complex due to being owned by a wealthy family. Financial gains played an integral part, but other considerations like team dynamics, player-to-player chemistry, and overall vision also played a significant role in their trade strategy.

Mumbai Indians’ transfer fee of approximately Rs 100 crore to Gujarat Titans shows their financial strength and contributed to boosting the auction purse of Gujarat Titans and the economic success of IPL.

Conclusion

Hardik Pandya’s trade with Gujarat Titans proved beneficial for both teams involved. CVC Capital-owned Gujarat Titans realised substantial profits when they sold Hardik to Mumbai Indians.

Conversely, Mumbai Indians secured talented all-rounder Hardik and strengthened their squad ahead of IPL season 2019.

This trade deal illustrates the intricate dynamics of the Indian Premier League (IPL) and how franchises navigate player markets to build winning teams.

Hardik Pandya’s return to the Mumbai Indians’ lineup during the IPL season 2024 will pose an immense challenge to their opponents.

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