EXPLAINED: What Is IPL Trade Window And How Does It Work In Regards To GT Captain Hardik Pandya's Likely Move To MI

The reports of Hardik Pandya likely to shift base back to Mumbai Indians has rocked the social media. Hardik has won four titles with Mumbai Indians- 2015, 2017, 2019 and 2020 respectively. He was releaded by MI ahead of the 2022 Mega Auction. Later, Gujarat Titans picked Hardik as the first player from the pool for a sum of Rs 15 crore. Hardik went on to win GT their first-ever IPL title in 2022 followed by a top 2 finish in 2023.

Hardik is being traded from GT to MI on an all-cash deal. In case you did not know what that means, this explainer is for you. 

Also Read | IPL 2024 Auction: Gujarat Titans Captain Hardik Pandya Is Rejoining Mumbai Indians For All-Cash Trade, Says Report

Here's everything you need to know about IPL trade window for franchises to understand Hardik's reported swap:

What is IPL trading window?

Ahead of every auction, there is a period in which the ten franchises in IPL can trade players. After the trading is done, the franchises announce the list of retained and released players. Released players then go into the auction. The sum of the amount of released players is added into the purse of the franchises, allowing them to make good buys on the auction day. 

When does IPL 2024 trading window closes?

Hardik Pandya deal (Espncricinfo):

- Mumbai Indians will pay (15 + X) cr to GT.

- Hardik Pandya will get upto X Cr.

- X is unknown...!!! pic.twitter.com/eSMqsxU7Gm — Mufaddal Vohra (@mufaddal_vohra) November 25, 2023

BCCI had extended the closing of trading window this year to November 26 from November 19 due to the IPL final on the same day. By November 26, all ten teams will have to submit the list of retained players to the organising committee of IPL.

How does the IPL trading window work?

The trading of players works in two ways. One is swapping the players between franchises and the other is buying a player on cash. It is called as the all-cash deal in which the buying team pays the price of the player on which he was bought at the auction plus an undisclosed amount which is the trading fee. Half of the trading fee amount also goes to the player. 

Not to forget, the franchise has to take consent of the player before making the move of trading him.

What if more than one franchise is interested in buying a player?

There could be a case that two franchises want to buy a player from another. In that case the franchise which is selling the player has the right to choose which franchise they will be selling the cricketer to.

How many players have been bought and sold in the IPL 2024 trading window?

Just 2 tradings have been confirmed ahead of the closer of the window. West Indies’ bowling all-rounder Romario Shepherd has been traded to Mumbai Indians (MI) from Lucknow Super Giants (LSG). While LSG have also swapped Avesh Khan with Devdutt Padikkal.