Punjab Kings (PBKS) have announced Shreyas Iyer as their captain for the 2025 Indian Premier League (IPL) season. The decision follows PBKS’s bold move during the mega auction, where they secured the 30-year-old for a staggering ₹26.75 crore. This makes Iyer the second-most expensive player in IPL history, trailing only Rishabh Pant, who was bought by Lucknow Super Giants for ₹27 crore in the same auction.

These record-breaking purchases have surpassed Mitchell Starc’s previous record, establishing Iyer and Pant as the highest-paid players in IPL history.

Shreyas Iyer is set to make history as the first Indian cricketer to captain three different IPL franchises. The 2024 IPL-winning skipper has previously led Delhi Capitals (DC) and Kolkata Knight Riders (KKR). His appointment at PBKS places him among an elite group of players, including Kumar Sangakkara, Mahela Jayawardene, and Steve Smith, who have each captained three different IPL teams. Notably, Iyer is only the second Indian after Sangakkara to be named a full-time captain for three franchises.

Sangakkara’s leadership journey spanned PBKS in 2010, Deccan Chargers in 2012, and Sunrisers Hyderabad in 2013. Jayawardene captained PBKS in one match in 2010 before assuming full-time roles with Kochi Tuskers Kerala (2011) and DC (2013). Steve Smith, meanwhile, led Pune Warriors, Rising Pune Super Giants, and Rajasthan Royals during his IPL career.

What sets Iyer apart is his unique distinction as the only IPL-winning captain to be released by his franchise after a title-winning season. In 2020, he led Delhi Capitals (DC) to their maiden IPL final, where they were defeated by the Mumbai Indians. In 2024, he captained KKR to victory against Sunrisers Hyderabad (SRH) in the final. Notably, he is the only captain in IPL history to have led two different teams to the final.

The 2025 IPL season presents Iyer with a golden opportunity to become the first captain to win titles with two different franchises. Hardik Pandya, another captain with a similar chance, will also compete for this rare feat. PBKS, under Iyer’s leadership, will be determined to end their 17-year title drought.

Iyer becomes the 17th captain of PBKS and their 12th full-time leader, following a distinguished list that includes Yuvraj Singh, Kumar Sangakkara, Adam Gilchrist, George Bailey, David Miller, Murali Vijay, Glenn Maxwell, Ravichandran Ashwin, KL Rahul, Mayank Agarwal, and Shikhar Dhawan. PBKS now joins Delhi Capitals and Sunrisers Hyderabad as the only franchises to have been led by over 10 different captains in IPL history.