Shreyas Iyer Or Hardik Pandya: Who Will Lead Punjab Kings In IPL 2027?

Punjab Kings and Mumbai Indians have completed one of the biggest player swaps in IPL history. MI captain Hardik Pandya moved to PBKS, while Arshdeep Singh, India’s leading T20I wicket-taker in the format, joined the five-time champions.

Hardik went to Punjab at a raised fee of INR 18 crore, up from INR 16.35 crore, while Arshdeep moves to Mumbai at his existing INR 18 crore. The deal came ahead of the IPL 2027 auction, and no third player was involved in the swap.

The move closes a chapter at both ends. Hardik’s second stint at Mumbai ends, with the franchise he helped to four IPL titles in 2015, 2017, 2019 and 2020. Arshdeep, meanwhile, ends an eight-season association with Punjab Kings. Punjab lose their frontline left-arm seamer and gain an all-rounder who offers balance with both bat and ball.

Who Will Lead Punjab Kings In IPL 2027?

That raises the obvious question: who will lead Punjab in 2027? The answer lies in what Shreyas Iyer has already done for the franchise. He took charge in 2025 and led Punjab to the final, where they finished as runners-up, a rare high for a side long known for underachieving.

In 2026 the team opened with a seven-match unbeaten run that included six wins and a washed-out fixture. Then the campaign unravelled. Punjab lost six games in a row before Iyer’s unbeaten maiden IPL century against Lucknow ended the streak.

The slide cost them a playoff place, but Iyer personally had an excellent season. He scored 498 runs at an average of 55.33 and a strike rate of nearly 169. One report on the collapse concluded that he deserved very little of the blame for how it ended.

Hardik’s captaincy record since he left Gujarat Titans tells a different story. He led Gujarat to the title in their debut season in 2022 and to the final in 2023, then returned to Mumbai in 2024 to take over from Rohit Sharma. That did not go to plan. Mumbai finished last in 2024 with four wins, and again managed only four wins in 2026.

They did qualify for the playoffs in 2025 under him but fell short of the final. The ninth-place finish in 2026 was the second time in three years that Mumbai ended in the bottom two under Hardik. He also struggled personally, scoring just 146 runs in eight innings and taking four wickets. After the season, reports said he was set to lose the Mumbai captaincy.

So Punjab’s leadership picture is clear. Shreyas will continue as captain, and Hardik joins as a player, with the franchise keen to use his all-round abilities. There is no sign of friction either. Reports have already suggested Hardik is happy to play under Shreyas Iyer. Iyer keeps the armband, and Hardik arrives to add depth to the side.