Abadi al johar arena

The Kolkata Knight Riders: 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, Iyer was expected to fetch a good price, but no one could have predicted the astronomical heights his auction would reach. 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 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.

But just when it looked like Iyer was heading back to KKR, Royal Challengers Bangalore (RCB) entered the fray. A fierce bidding war ensued between KKR and RCB, with the price soaring past Rs 12 crore, then 14 crore, and continuing to climb.