Ahead of the IPL 2025 season, Shreyas Iyer was released by Kolkata Knight Riders (KKR). He went into the IPL 2025 mega auction at a base price of ₹2 crore.

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At the IPL 2025 mega auction, Iyer went on to become one of the most expensive players in IPL history, after Punjab Kings picked him for a whopping amount of ₹26.75 crore. In his first season with Punjab Kings, the Mumbai cricketer led them to the IPL final, where they lost to Royal Challengers Bengaluru (RCB).

Ricky Ponting on Shreyas Iyer

"When I got this role and realised that Shreyas was going into the mega auction, I made sure I had enough money in my purse to be able to buy him at the auction. I was really keen to work with Shreyas again," Ricky Ponting told reporters on Monday ahead of Punjab Kings' IPL 2026 opener against Gujarat Titans on Tuesday.

Ponting worked with Shreyas at Delhi Capitals (DC) when the two were coach and captain, respectively. Delhi Capitals reached the final of IPL 2020 under their leadership, but lost to Mumbai Indians (MI) by five wickets. "It was not just about the relationship that we had," the former ODI World Cup-winning Australia skipper said.

"Understanding where this team and this franchise have been over the last 15 years, I wanted to really try and rebuild the team from the bottom up. And the only way you can do that, I think, in IPL cricket, is by bringing the best Indian players into your team," he added.

Ahead of the IPL 2025 season, Punjab Kings had retained just two players, both being uncapped. They were Shashank Singh and Prabhsimran Singh, and were retained for a combined total of ₹9.5 crore. Apart from Iyer, Arshdeep Singh ( ₹18 crore via RTM card) and Yuzvendra Chahal ( ₹18 crore) were a couple of the other key buys for Punjab Kings.

'It's not just his captaincy': Ponting on Iyer

Ponting stressed that it is not just the captaincy that makes Shreyas Iyer a crucial part of the Punjab Kings setup. "I love working with Shreyas. I think we've both got very similar ideas and mantras on the game," he said.

"And let's not forget just how good a player he is. It's not just his captaincy," he added before explaining Iyer's batting. "The level of play that we saw from him last year with the bat was probably as good as he's ever had in an IPL. And I can just see that hunger in his eyes, probably burning more than ever now," explained the 51-year-old.