Indian all-rounder Hardik Pandya returned to his previous IPL team, Mumbai Indians, after playing for Gujarat Titans.
There are two types of player trades in the IPL - a one-way trade and a two-way trade.
This occurs when a franchise buys one or more players from another IPL team. Hardik Pandya's move to Mumbai Indians is an example of a one-way trade.
This involves the swapping of players between two teams. An example is Rajasthan Royals swapping Devdutt Padikkal with Lucknow Super Giants pacer Avesh Khan.
Consent is required from the player in both one-way and two-way trades.
A player can express interest in being traded if they receive an offer from another IPL franchise, or a franchise can decide to sell a player after getting their permission.
In a trade, a transfer fee is discussed between the player and their current IPL team.
The new team pays the player's annual fees, which is separate from the transfer fee. For example, Mumbai Indians will pay Hardik Pandya's Rs 15 crore annual fee.
Players can earn a percentage from the transfer fees, which are not capped by the BCCI.
The team releasing the player receives the transfer fee from the team acquiring the player. The specific transfer fee for Hardik Pandya has not been made public.