India, Dec. 16 -- India all-rounder Venkatesh Iyer on Tuesday witnessed a dramatic turn at the IPL 2026 auction as Royal Challengers Bengaluru outbid Kolkata Knight Riders in an intense bidding war. Iyer, who fetched a staggering INR 23.75 crore in the mega auction last year in Jeddah, was snapped up for INR 7 crore this time, marking a steep 71 per cent pay cut.

Venkatesh's auction began on a hesitant note. Just when it seemed the all-rounder could shockingly go unsold, Lucknow Super Giants raised the paddle first, before Gujarat Titans briefly joined the fray. LSG soon backed out as Royal Challengers Bengaluru and Kolkata Knight Riders took control of the bidding. The defending champions eventually snapped up the all-rounder for INR 7 ...