IPL 2027 trades: Who gained crores and who took a massive salary cut? Hardik, Pant, Livingstone in focus. (Image: Instagram)

The IPL trading window will remain open until a week before the mini-auction, scheduled to take place in Goa on December 16 at ITC Grand Goa. Meanwhile, franchises are expected to announce their list of retained and released players after November 16, setting the stage for another round of players shuffle.

Several high-profile players have already switched franchises, with some seeing significant changes in their price tags. While a few have managed to secure better deals, others have taken substantial pay cuts. Here's a look at the major IPL trades and changes in salary:

Hardik Pandya and Arshdeep Singh (Punjab Kings and Mumbai Indians) – Rs 18 crore

Arguably the biggest trade deal of the IPL season, the swap between Mumbai Indians and Punjab Kings involves two prominent Indian players – Hardik Pandya and Arshdeep Singh.

While Arshdeep's trade value has remained unchanged at Rs 18 crore, Pandya has secured a pay hike of Rs 1.65 crore. His previous retention price at Mumbai Indians stood at Rs 16.35 crore, meaning the move to Punjab Kings has worked in his favour financially.

The deal also gives PBKS an experienced all-rounder and MI a proven left-arm pace option, making it an important exchange for both franchises.

Rishabh Pant and Kuldeep Yadav (Delhi Capitals to Lucknow Super Giants)

Rishabh Pant remains the most expensive player in IPL auction history after Lucknow Super Giants secured his services for a record Rs 27 crore. However, following two underwhelming seasons with the franchise, the wicketkeeper-batter is now heading back to Delhi Capitals at a significantly reduced price of Rs 15 crore.

That represents a massive Rs 12 crore drop from his previous IPL contract, making Pant one of the biggest financial losers in this trading window.

For Delhi Capitals, however, the deal could prove to be a bargain. The franchise has managed to bring back one of its former stars without having to match his record-breaking price tag.

T Natarajan and Zeeshan Ansari (Delhi Capitals to Sunrisers Hyderabad)

The exchange involving T Natarajan and Zeeshan Ansari is another interesting deal, particularly from a financial perspective.

Natarajan, who was once among the most sought-after Indian death-over specialists in the IPL, has seen his value take a considerable hit. Delhi Capitals had acquired the left-arm pacer for Rs 10.75 crore at the previous auction, but his latest trade to Sunrisers Hyderabad has been completed for Rs 5 crore – a reduction of Rs 5.75 crore.

Injuries and limited returns have affected his recent IPL prospects, although a return to SRH could offer him an opportunity to rediscover his best form.

Ansari, meanwhile, moves in the opposite direction. Delhi Capitals have brought in the young wrist-spinner for Rs 40 lakh, the same amount as his previous auction price. With Kuldeep Yadav moving to LSG, Ansari could provide DC with an additional option in the spin department.

Liam Livingstone and Jack Edwards (Sunrisers Hyderabad to Chennai Super Kings)

Khaleel Ahmed and Nathan Ellis (Chennai Super Kings to Sunrisers Hyderabad)

The player exchange between Chennai Super Kings and Sunrisers Hyderabad is arguably one of the most intriguing transactions of this trading window, with both franchises making multiple changes to their squads.

Liam Livingstone is among the biggest names involved in the deal. The England all-rounder had attracted a hefty Rs 13 crore price tag at the previous auction but struggled to secure a regular place in SRH's playing XI. He featured in just two matches, with the franchise eventually deciding to move him on for Rs 6 crore. That represents a Rs 7 crore reduction in his IPL price.

Jack Edwards is another player heading to Chennai as part of the deal. Valued at Rs 3 crore, the Australian remains relatively untested in the IPL, and it will be interesting to see how CSK utilise his services.

In return, SRH have acquired Khaleel Ahmed and Nathan Ellis from CSK.

Khaleel, who was bought by Chennai for Rs 4.8 crore, will move to Hyderabad at the same price. The left-arm pacer featured in seven matches for CSK and will offer SRH another option in their pace attack.

Nathan Ellis has also retained his existing value of Rs 2 crore in the trade. The Australian fast bowler could prove to be an important backup option for SRH.