In one of the biggest and most surprising player swaps in IPL history, Rishabh Pant is officially heading back to the Delhi Capitals (DC). In return, star spin-bowler Kuldeep Yadav is joining the Lucknow Super Giants (LSG).
The Board of Control for Cricket in India (BCCI) confirmed the massive trade on Tuesday, June 23, 2026, setting the stage for a completely reshaped IPL 2027 season.
Here is a simple breakdown of how this blockbuster deal went down and what it means for both teams.
Pant Takes a Huge Pay Cut
The biggest talking point of this trade is the money. Back at the 2025 mega auction, Lucknow shattered records by buying Pant for a staggering ₹27 crore.
Because that massive price tag was too expensive for almost any team to take on in a trade, Pant agreed to lower his salary to make the move back to Delhi happen. He will now earn ₹15 crore with the Capitals—sacrificing a whopping ₹12 crore from his previous contract.
Meanwhile, Kuldeep Yadav moves to Lucknow on his existing salary of ₹13.5 crore.
How this changes the team budgets (Auction Purses):
Lucknow Super Giants benefit immensely. By swapping Pant’s ₹27 crore salary for Kuldeep’s ₹13.5 crore, they instantly free up ₹13.75 crore to spend on new players.
Delhi Capitals take a tiny hit. They send out Kuldeep's contract and take on Pant's new ₹15 crore fee, costing them just an extra ₹1.25 crore. Getting a player of Pant’s star power for that price is a massive win.
Why the Trade Happened
For both players, this swap feels like a homecoming. Pant played nine seasons for Delhi Capitals between 2016 and 2024, holding the record for the most appearances in the franchise's history. Kuldeep, on the other hand, is from Uttar Pradesh and will now get to play for his home-state team in Lucknow.
The move also comes after a rough couple of years for Lucknow under Pant’s leadership. LSG had two disappointing seasons, culminating in a bottom-of-the-table finish in 2026. Pant struggled to find his best form with the bat, scoring 581 runs across 28 matches, and stepped down as captain at the end of the season.
Delhi was also looking for a shake-up after missing the playoffs under captain Axar Patel. Kuldeep had a spectacular overall run with Delhi (72 wickets in 65 matches), but had a quieter 2026 season, picking up 10 wickets in 12 games.
What’s Next for Delhi and Lucknow?
While Pant is a beloved icon in Delhi, reports indicate he won't immediately take back the captaincy. Instead, the Capitals want him to focus on what he does best: destroying bowling attacks and keeping wickets.
The management structure in Delhi is also changing. The JSW Group is taking full control of the team for the next two years, and Indian cricket legend Sourav Ganguly is returning to lead cricket operations. Rumors are also swirling that Yuvraj Singh is set to join Delhi's coaching staff.
For Lucknow, the extra cash in their pocket gives them incredible spending power to rebuild their squad from scratch, with Kuldeep now leading their spin attack.
Frequently Asked Questions (FAQs)
Q: How much money did Rishabh Pant lose in this trade?
Pant took a massive ₹12 crore pay cut to make the trade happen. Lucknow Super Giants originally bought him for an IPL-record ₹27 crore in 2025, but he agreed to reduce his salary to ₹15 crore so the Delhi Capitals could fit him into their budget.
Q: Is Rishabh Pant going to captain the Delhi Capitals in IPL 2027?
No, reports indicate that Pant will not immediately return as captain. The Delhi Capitals management wants him to focus entirely on his role as an explosive wicketkeeper-batsman. Axar Patel led the side during the last season.
Q: Why did Lucknow Super Giants let go of Pant?
Pant had a tough two-year stint with Lucknow. Under his leadership, the team failed to make the playoffs in consecutive years, finishing at the very bottom of the table. He also struggled individually with the bat, scoring only 581 runs across 28 matches, which led both him and the management to agree on a fresh start.
Q: What is Kuldeep Yadav’s salary at Lucknow Super Giants?
Kuldeep Yadav’s salary remains completely unchanged. He moves from Delhi to Lucknow on his existing contract value of ₹13.5 crore.
Q: How does this swap help Lucknow's auction budget?
By trading away Pant's massive ₹27 crore contract and taking on Kuldeep’s ₹13.5 crore contract, Lucknow instantly frees up ₹13.75 crore in cash. This gives them significant extra spending power to rebuild their squad at the next player auction.
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