Rumours began circulating on Friday, November 24, and became more solid throughout the day, with ESPNcricinfo among those reporting that Pandya, who led Gujarat Titans to the title in their first season as an IPL club in 2022, would soon be moving back home to Mumbai. Gujarat Titans fell just short of defending their crown this year, beaten by Chennai Super Kings in the final.

According to ESPNcricinfo, the deal will be an all-cash trade, with Mumbai Indians paying Pandya’s salary of INR 15 crore, as well as an undisclosed fee to Gujarat Titans. Pandya is reportedly set to receive up to half of the fee as part of the deal.

This “transfer fee” defeats the purpose of a fixed salary cap and transparency. #iplauction

— Shashank Kishore (@captainshanky) November 25, 2023

It has been speculated that there is more to the trade “than what meets the eye”, given Pandya’s worth and stature in Indian cricket. Domestic players of Pandya’s calibre rarely feature in IPL auctions, but given Ben Stokes was sold for INR 16.5 crore in the 2022 auction, and that Pandya is younger with a more proven track record and doesn’t occupy an overseas spot, a fee in excess of INR 20 crore could have been a possibility.

There is absolutely ZERO cricketing merit in a franchise letting go of the only & the best pace bowling allrounder in the country, who also happens to be a title winning captain and nearly defended the title, along with being a local boy.

There is definitely more to it than what…

— Gurkirat Singh Gill (@gurkiratsgill) November 24, 2023

Esteemed Indian cricket commentator Harsha Bhogle described the move as “as big a coup as is possible” in the IPL.

When I first got a whiff of the Hardik Pandya transfer back to @mipaltan,I didn't think it would actually happen. It was too big a move and he had produced stellar results at @gujarat_titans. But it is on and if he stays fit, it will be as big a coup as is possible in the…

— Harsha Bhogle (@bhogleharsha) November 25, 2023

Captain trades have happened before in the IPL, with R Ashwin switching from Punjab Kings to Delhi Capitals in 2020, and Ajinkya Rahane moving from Rajasthan Royals to Delhi Capitals in 2020, but neither compares to this for magnitude.

The move is also noteworthy from the point of view of the India national team. Pandya has been India’s de facto T20I captain, with Rohit Sharma, nominally the all-formats captain, not playing a T20I since India’s semi-final thrashing by England in the 2022 T20 World Cup. Both will represent Mumbai Indians next year, and if they continue to struggle, pressure could mount on Rohit.

Up until 2020 the most successful side in IPL history, with five titles, Mumbai Indians have since failed to threaten the latter stages of the tournament. Chennai Super Kings drew level with their tally of trophies in the 2023 edition, winning their second title in three years. A group stage exit in 2021 was followed by a last-placed finish in 2022, and while they improved to make the playoffs last time out, that still leaves them with a win/loss ratio of 0.83 in the last three seasons.

Pandya began his IPL career at Mumbai Indians, signing as an uncapped player for INR 10 lakhs in the 2015 auction, and going on to establish himself as one of the best all-rounders in the world. He was released ahead of the 2021 mega-auction and signed by Gujarat Titans as one of three marquee players.

The next IPL auction will be held on December 19, with November 26 the reported date for franchises to announce retentions and releases. Despite Pandya’s likely exit, Gujarat Titans are 4/1 favourites to win the 2024 IPL with Betway.