In November 2026, Hardik Pandya joined Punjab Kings while Arshdeep Singh moved to Mumbai Indians in a significant trade between the two franchises. Pandya's compensation increased to Rs 18 crore from his previous Rs 16.35 crore, whereas Arshdeep retained his price tag of Rs 18 crore. Shreyas Iyer continues leading Punjab Kings, a factor that shapes assessments of the deal's value for each party.

Subramaniam Badrinath, the former Chennai Super Kings cricketer, analysed the trade on YouTube, examining how it affects Pandya, Arshdeep and both franchises. The captaincy question emerged as central to Badrinath's evaluation, particularly given earlier discussions about Pandya's conditions for moving.

"For Hardik Pandya, he is probably not in a great win-win situation. He won't be captain. There were talks that he would only move if he was offered captaincy. He might not be able to do that now and won't have a say. This is the last year before the mega auction," Badrinath said on his YouTube channel.

"Punjab will definitely retain him. So he will be retained in that price bracket. If he went to auction, he could go for more. So he will lose out there. So, it is a good trade for MI, a good trade for PBKS, a good trade for Arshdeep, but for Hardik, it is an ok trade, not so super. That's my opinion," he added.

Retention at his current price bracket prevents Pandya from entering the open auction ahead of the mega auction, where he could potentially attract a higher valuation. This constraint significantly affects the overall proposition for the all-rounder, particularly as the franchise restructuring approaches.

How does Arshdeep Singh strengthen Mumbai Indians?

Badrinath acknowledged Pandya's quality as a world-class all-rounder despite the captaincy disappointment. He emphasised the value Pandya brings to Punjab Kings through his experience and lower-order batting prowess.

"Hardik Pandya is the biggest all-rounder in the world for Punjab Kings. The only thing is that he will play under Shreyas as captain. We all know that he won't be captain. But a super buy. An all-rounder," Badrinath said.

"He has experience. A good hitter down the order. Arshdeep is probably among the best death bowlers in India right now. I think it is a big positive for Mumbai Indians, as he is a left-armer, bowls well, is at his peak and is playing for the Indian team. So it is a win-win for both teams," he added.

Arshdeep's acquisition addresses a critical bowling requirement for Mumbai Indians, who finished ninth in the 2026 season with four wins from 14 matches. The left-arm pacer claimed 14 wickets during the 2026 IPL season and 21 wickets in 2025, establishing himself among India's premier death bowlers. His addition to the Mumbai squad represents a significant upgrade in their fast-bowling arsenal as they prepare for the upcoming season.