The confirmation came hours after the IPL retention window closed on November 26. GT had then stated that it had retained Pandya, who led the side to its inaugural victory in the 2022 edition.

However, PTI later reported that the delay in formal paperwork had prevented the IPL authority and the Board of Control for Cricket in India (BCCI) from issuing their nod for the trade-off before the closure of the retention window.

Also Read: IPL 2024 Retentions: Full list of players retained, released by all the 10 franchises

Shortly thereafter, the formalities were completed by both the sides. While the retention window was closed, the trade-off is permitted till December 12, reports suggested.

“Hardik’s trade off got completed after 5 pm. The deal is now formalised and he is a MI player. It’s been a tripartite all cash deal,” a BCCI official told PTI on condition of anonymity.

Also Read: ‘If it’s true, Mumbai Indians have struck gold’, says R Ashwin on Hardik Pandya’s return to MI

“MI have traded their all-rounder Cameron Green to RCB in an all cash deal. After that they had requisite funds to settle an all-cash deal with Gujarat Titans and procure Hardik’s services,” the news agency further quoted the official as saying.

Notably, Green was bought by MI for a whopping ₹17.5 crore during last auction and hence the money required to buy Pandya was not available till that deal was inked. 

Pandya was picked by Gujarat Titans before 2022 auction from the list of available players for the two new franchises — GT and Lucknow Super Giants. His reported fee was ₹15 crore and he led the side to back-to-back finals, winning the championship in maiden year and losing a thriller to CSK in 2023.

(With PTI inputs)

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Updated: 26 Nov 2023, 11:23 PM IST