Only one side’s books move. Mumbai Indians take on an extra Rs 1.65 crore in salary because Arshdeep costs Rs 18 crore against the Rs 16.35 crore Hardik earned, while Punjab Kings break even, since both players now sit at Rs 18 crore. The IPL confirmed the swap on 11 November, five weeks before the mini-auction in Goa on 16 December. No 2027 purse figure has been published yet for either franchise, so the maths below is a calculation, not an official number.
The Swap Came Together Over Eight Days
Early reports on 3 November put Punjab Kings deep in negotiations with Mumbai Indians. Four days later, the deal was described as done in principle, though paperwork for both players needed roughly another week. BCCI approval surfaced on 10 November, and the league’s media advisory made it official the next day. The whole process took eight days from first report to official word.
Hardik, 33, moves to Punjab. Arshdeep made his Punjab debut in 2019 and finished as their leading wicket-taker, taking 111 wickets from 96 games, before heading to Mumbai. Punjab are therefore giving up the most prolific bowler in their history.
Hardik Pandya Arshdeep Singh Trade IPL 2027 Purse
The advisory lists each player’s fee but no purse numbers, so the net column in the table below is calculated by me. It assumes a purse changes by the fee of the man leaving and the fee of the man arriving. Hardik’s fee climbs to Rs 18 crore at Punjab from the Rs 16.35 crore he had at Mumbai, while Arshdeep keeps the Rs 18 crore he already had. Treat the figures as an estimate until the franchises publish their own.
On that basis, Mumbai absorbs an extra Rs 1.65 crore of salary, and Punjab is untouched because the two figures cancel out. Any cash changing hands between the clubs falls outside the cap, and nothing of the kind has been disclosed. The table lays the position out side by side, with Mumbai the only team whose figure moves.
Franchise | Player out and fee | Player in and fee | Net purse change |
Mumbai Indians | Hardik Pandya, Rs 16.35 crore | Arshdeep Singh, Rs 18 crore | Down Rs 1.65 crore |
Punjab Kings | Arshdeep Singh, Rs 18 crore | Hardik Pandya, Rs 18 crore | Nil |
Mumbai Indians Spending Room in Goa
Mumbai have not had a 2027 purse published. Teams must hand in retained lists on 17 November, a deadline the BCCI shifted from the 15th. A year ago they walked into the auction with five open slots and a Rs 2.75 crore budget, and still ended with a full squad of 25.
Exchanging one player for one leaves the squad count untouched. Releases are the only route to extra room at the Goa auction, and the exchange has already consumed Rs 1.65 crore of that. That makes the 17 November lists the real test of how much spending power Mumbai have left.
Punjab Kings Spending Room in Goa
Punjab have no published purse either. Their budget for the 2026 auction stood at Rs 11.5 crore, with four places to fill. By these numbers, the move neither adds to that nor subtracts from it, so their buying power hangs on whom they retain by 17 November. The same logic holds for squad spots, since one player arrives for each who leaves.
Shreyas Iyer stays on as captain, and Hardik is comfortable with playing under him. That removes one possible source of friction from a deal that already looks tidy on paper.
Gaps Each Squad Still Has to Fill
Mumbai give up their captain, a middle-order batter and a chunk of seam bowling in a single move. In return, they get a left-arm quick with 21 wickets from the 2025 season and 14 from 2026. That is three separate holes for one transaction to leave behind. A new captain is expected for 2027, and no name has emerged.
Punjab surrender their best opening-spell bowler and a frequent finisher with the ball. An all-rounder with 82 wickets and 2,955 runs in the IPL arrives, but the opening spells are the problem to solve. Whatever Goa brings, the Hardik Pandya-for-Arshdeep Singh trade IPL 2027 purse picture stays lopsided, with Mumbai paying the premium and Punjab left with a bowling hole.
Who gets the better end of this swap, Mumbai with Arshdeep or Punjab with Hardik? Drop your verdict in the comments.
Frequently Asked Questions (FAQs)
Which team will Hardik Pandya play for in 2027?
Hardik Pandya will play for Punjab Kings in 2027. The IPL confirmed the swap with Mumbai Indians on 11 November 2026, and Arshdeep Singh moves in the opposite direction at Rs 18 crore.
How much does Arshdeep Singh earn at Mumbai Indians?
Arshdeep Singh earns Rs 18 crore at Mumbai. That matches the fee he drew at Punjab Kings, so his contract value does not change with the move.
What is the Mumbai Indians purse for the 2027 auction?
Mumbai have not had a purse published yet. The swap adds Rs 1.65 crore in salary by this calculation, which eats into whatever space releases create before 17 November.
What is the Punjab Kings purse for the 2027 auction?
Punjab Kings also await an official figure. Both players carry Rs 18 crore fees, so the exchange leaves their spending power exactly where it was before 11 November.
Who will captain Punjab Kings in 2027?
Shreyas Iyer is Punjab’s captain, and no change has been announced. Hardik Pandya arrives as an all-rounder who has taken 82 IPL wickets and scored 2,955 runs, which gives him a clear role.
Disclaimer: This blog post reflects the author’s personal insights and analysis. Readers are encouraged to consider the perspectives shared and draw their own conclusions.