The Kolkata Knight Riders (KKR) acquired the services of Madhya Pradesh all-rounder Venkatesh Iyer for Rs 23.75 crore in the IPL 2025 Auction here at the Abadi Al Johar Arena in Jeddah on Sunday. Venkatesh Iyer stunned many after being roped in for a massive price of Rs 23.75 crore by Kolkata Knight Riders at the IPL 2025 mega auction on Sunday, November 24. Venkatesh Iyer entered the auction at a base price of Rs 2 crore and saw a massive bidding war for him by three teams.
Venkatesh Iyer, the star Madhya Pradesh all-rounder attracted major interest from Lucknow Super Giants, Royal Challengers Bengaluru and Kolkata Knight Riders. The IPL 2024 champions KKR managed to secure the deal after they made the winning bid of Rs 23.75 crore.
Venkatesh Iyer’s rise to ranks in IPL Auction.
The Kolkata Knight Riders (KKR) acquired the services of Madhya Pradesh all-rounder Venkatesh Iyer for Rs 23.75 crore in the IPL 2025 Auction here at the Abadi Al Johar Arena in Jeddah on Sunday. With a base price of Rs. 2 crore, Venkatesh Iyer was expected to fetch a good price, but no one could have predicted the astronomical heights his auction would reach.
KKR, who didn’t have the option of Right to Match heading into this auction (as they had already retained six players), were the first ones to raise the paddle for the MP all-rounder. LSG joined the bid quickly but moved out when the bid reached Rs 7.75 crore. RCB entered next and had a bidding war with KKR for Iyer
KKR, the team he helped lead to glory in the previous season, opened the bidding. Lucknow Super Giants (LSG) quickly joined in, trying to snatch Venkatesh Iyer from KKR. The bidding escalated steadily, with LSG pushing the price to Rs 6 crore. However, they bowed out as KKR raised their bid to Rs 7.75 crore.
Paddles were raised rapidly as the two franchises showed no signs of backing down. The bid crossed Rs 18 crore, then Rs 19 crore, with KKR momentarily in the lead at Rs 19.25 crore. KKR raised the bid to Rs 20.75 crore, but RCB still wasn’t done. The battle continued until the bid hit an astonishing Rs 23.75 crore as KKR claimed the services of their former all-rounder.
Venkatesh Iyer’s performance in IPL and for KKR
Venkatesh had debuted for KKR in 2021 and immediately made an impact with a prolific season, scoring 370 runs in just 10 matches at an average of 41.11. His exploits with the bat and ball earned him a spot in the Indian national team in both T20Is and ODIs. Over his IPL career, Iyer amassed 1,326 runs in 50 matches at an average of 31.57, with one century and 11 half-centuries with highest score of 104.
Bought in 2021, Venkatesh Iyer has played 51 matches in the IPL, all of them for KKR, scoring 1326 uns, inclduing a hundred. He became the first Indian batter to hit a hundred for KKR in 2023 season.
In IPL 2024, Venkatesh Iyer’s value as a match-winner was undeniable. His T20 batting strike rate of 137.64 and his tight bowling economy under seven underscored his all-around capabilities. The Madhya Pradesh all-rounder had also hit 121 fours and 61 sixes in his IPL career, solidifying his reputation as a power-hitter. Venkatesh Iyer played a key role in KKR’s title-winning run in 2024, hitting 370 runs at a staggering strike rate of 158.
Venkatesh Iyer expresses himself on his return to KKR in whopping 23.75 crores in IPL 2025 Auction
Venkatesh Iyer plays a paddle sweep against Shahbaz Ahmad, fetching the ball from way outside off stump. The big left-hander gets an under-edge, and nearly gets played on. But it somehow evades the furniture, and wicketkeeper Heinrich Klaasen, as Iyer runs down the pitch with his arms aloft. KKR win a third IPL title. A clumsy shot to mark the proudest moment of his career.
“I wanted to hit the run cleanly; I am still unhappy that I got an under-edge. But as you said, not a lot of people are fortunate enough to hit the winning run in a major tournament. So I was extremely satisfied that I was able to do it. And to do it with the skipper at the other end, made it even more special. People will say, ‘Both the Iyer’s finished that match,’” Venkatesh Iyer says in an exclusive interview with Sportskeeda.
Bought back by Kolkata Knight Riders for a whopping Rs 23.75 crore at the IPL mega auction here, Venkatesh Iyer on Sunday said he would be “more than happy” to take on the captaincy challenge and step into Shreyas Iyer’s shoes.
In a bold and unexpected move, the Shah Rukh Khan-owned franchise chose not to retain their 2024 IPL-winning captain Shreyas Iyer at the mega auction here and went for an all-out bidding war against Royal Challengers Bengaluru to secure Venkatesh.
“I had the opportunity to captain the side in Nitish Rana’s absence when he was unfortunately injured, and I was the vice-captain as well,” said Venkatesh after he was bought by KKR for the huge amount.
“I’ve always believed that captaincy is just a tag, but leadership is about creating an environment where everyone feels they can play for this team and contribute. If given the responsibility, I would be more than happy to take it on. Absolutely (I’m ready for it).
Venkatesh Iyer grateful to KKR franchise for restoring faith in him for IPL 2025
Venkatesh, who has represented India in nine T20Is and two ODIs, became the third-most expensive buy at the IPL mega auction, after Shreyas (Punjab Kings, Rs 26.75 crore) and Rishabh Pant (Lucknow Super Giants, Rs 27 crore).
The hefty price tag made him one of the biggest surprises of Sunday’s auction and he could not thank the franchise enough.
“Thank you, KKR, for trusting me and showing so much belief in me. I’m extremely delighted to be part of Kolkata Knight Riders again. To be honest, I’m at a loss for words, but I’m elated to be part of the KKR team once again,” said the 29-year-old.
“The KKR coach (Chandrakant Pandit) was also my coach in Madhya Pradesh. We were discussing how I felt nervous about coming back to KKR. But again, it’s a message of the franchise’s focus on winning championships and player development and how much they value its players. I’m thrilled to play for KKR again and happy they’ve shown so much confidence in me.”
KKR were not able to buy back the likes of Shreyas Iyer and Phil Salt on Day 1 of the mega auction. However, they bought Anrich Nortje for Rs 6.5 crore. They secured South African star Quinton de Kock for Rs 3.6 crore, young batter Angkrish Raghuvanshi for Rs 3 crore, Afghanistan wicketkeeper Rahmanullah Gurbaz for Rs 2 crore and Vaibhav Arora, uncapped pacer, for Rs 1.8 crore