India, Nov. 11 -- Mumbai Indians and Punjab Kings have completed one of the biggest trade deals in Indian Premier League (IPL) history, with Hardik Pandya moving to PBKS in exchange for Arshdeep Singh. Pandya, who captained MI over the last three seasons, will now begin a new chapter after failing to guide the franchise to a title during his tenure as skipper.

"Pandya will join PBKS at a fee of Rs.18 crore, up from his existing fee of Rs.16.35 crore, while Arshdeep will join MI at his existing fee of Rs.18 crore," the IPL statement read.

Pandya was linked with several franchises after his forgettable outing last season, but Punjab Kings eventually managed to secure the services of the all-rounder. They sent their lead fast bowler, Arshd...