Explained: Why KKR bid Rs 23.75 crore for Venkatesh Iyer

NEW DELHI: The cricketing world was left stunned when Kolkata Knight Riders (KKR) opted not to retain their title-winning captain Shreyas Iyer and instead re-signed all-rounder Venkatesh Iyer . At the IPL mega auction in Jeddah on Sunday, KKR shelled out a staggering Rs 23.75 crore for Venkatesh, fueling speculation that the Madhya Pradesh all-rounder might take on the captaincy mantle in Shreyas’ absence.

The Shah Rukh Khan-owned franchise battled fiercely against Royal Challengers Bangalore (RCB) to secure Venkatesh, who became the third-highest purchase of the auction after Shreyas (Rs 26.75 crore, Punjab Kings) and Rishabh Pant (Rs 27 crore, Lucknow Super Giants).

Despite the hefty price tag raising eyebrows, KKR justified their decision, emphasizing Venkatesh’s contributions and potential leadership qualities.

Here’s a breakdown of why KKR went all-in for their all-rounder:

IMPACT WITH THE BAT

Venkatesh Iyer’s ability to accelerate the run rate and his consistency in delivering under pressure have made him a nightmare for bowlers. Since debuting for KKR in 2021, the Madhya Pradesh all-rounder has become a vital cog in their setup.

With a T20 batting strike rate of over 135, Venkatesh announced himself in style during the 2021 IPL, scoring 370 runs in just 10 matches at an average of 41.11.

Although his 2022 season was underwhelming, he bounced back in 2023 and 2024 with consistent performances, including 404 runs in 2023 and 370 runs in 2024.

His IPL career boasts one century and 11 fifties, showcasing his big-match temperament.

KKR mentor Dwayne Bravo also praised the move, saying: “Getting Venky was one of the main priorities for us, as you could see, we went all out for him. It’s good that we have 90% of the players from the championship-winning team. That in itself is a positive sign.”

LOOKING FOR CONTINUITY

Bought by KKR for just Rs 20 lakh in 2021, Venkatesh has been a cornerstone of their success.

His consistent performances, including a maiden half-century against Mumbai Indians and four fifties in his debut season, earned him a long rope with the franchise.

Venkatesh has also grown under the tutelage of Chandrakant Pandit, KKR’s head coach, who guided Madhya Pradesh to their maiden Ranji Trophy title in 2022.

This continuity in working relationships makes Venkatesh a valuable asset for KKR’s future.

CAPTAINCY MATERIAL

With Shreyas Iyer moving to Punjab Kings, KKR might hand over the captaincy to Venkatesh.

Having spent four seasons with the franchise, he understands the team dynamics and has worked closely with Pandit.

Under Pandit’s leadership, KKR ended their decade-long title drought in 2024, a campaign in which Venkatesh played a key role.

Given his leadership experience and familiarity with the setup, Venkatesh seems poised to step into the captaincy role for IPL 2025.

AUCTION DYNAMICS

The IPL 2025 mega auction saw Rs 639.15 crore spent on 182 players, with KKR entering with Rs 50.95 crore.

Despite having no Right to Match (RTM) cards, KKR was determined to retain Venkatesh.

Starting at a base price of Rs 2 crore, the bidding war quickly escalated as Lucknow Super Giants (LSG) and RCB joined the fray.

After LSG exited at Rs 6 crore, KKR and RCB went head-to-head, driving the price past Rs 23 crore before KKR emerged victorious at Rs 23.75 crore.