IPL 2026 Auction: From ₹23.75 Cr to ₹7 Cr- Venkatesh Iyer Sold To RCB, Gets 70% Pay-Cut

Venkatesh Iyer's journey at the IPL 2026 auction was a sharp reminder of how swiftly fortunes can change in the league's high-stakes marketplace. The Indian all-rounder, who had commanded a massive ₹23.75 crore fee from Kolkata Knight Riders at the IPL 2025 mega auction, was sold to defending champions Royal Challengers Bengaluru for ₹7 crore - a staggering drop of over 70 percent from his previous valuation.

Entering the auction, Iyer was among the most closely tracked Indian names. For a brief phase, uncertainty loomed as he remained unsold, triggering speculation over whether teams would hesitate to invest heavily in him again.

That silence, however, did not last long. Interest soon gathered pace, culminating in a two-way contest between his former franchise KKR and RCB.

Kolkata pushed the bidding to ₹6.8 crore before stepping back, paving the way for RCB to secure the Madhya Pradesh all-rounder at ₹7 crore. The acquisition added depth and versatility to RCB's squad as they look to defend their title in IPL 2026.

Interestingly, Iyer's auction day coincided with a timely reminder of his batting credentials. Representing Madhya Pradesh in the Syed Mushtaq Ali Trophy Elite 2025 Super League Group A match against Punjab in Pune, he struck a fluent 70 off 43 balls, laced with eight fours and two sixes. The knock reinforced his ability to influence games in the shortest format.

Iyer first rose to prominence during IPL 2021, where his explosive performances for KKR marked him out as a breakout star. That season propelled him into the national reckoning and established him as one of India's most promising domestic all-rounders. While IPL 2022 proved relatively subdued, he bounced back strongly in 2023, amassing 404 runs for KKR, including a century, at a strike rate exceeding 145.

Now at RCB, Iyer reunites with his Madhya Pradesh captain Rajat Patidar, who also leads the Bengaluru franchise. With a fresh start and a settled role, the 2026 season could offer Iyer the platform to rebuild momentum and reaffirm his value at the IPL level.