India, July 26 -- The possibility of Hardik Pandya moving from the Mumbai Indians to the Chennai Super Kings has opened the door to what could become one of the IPL's most consequential trades.

The latest speculation has thrown up two possible constructions. Mumbai Indians are understood to want Shivam Dube and Ayush Mhatre in exchange for Hardik, while another version of the negotiations has CSK unwilling to part with Mhatre and instead offering Dube, Dewald Brevis and an additional Rs.10 crore.

Neither franchise has confirmed a deal, but the reported packages offer an intriguing exercise in valuation. Hardik remains one of the rarest commodities in Indian cricket: a middle-order batter capable of bowling seam, filling a leadership rol...