Reports indicate that Mumbai Indians (MI) and Lucknow Super Giants (LSG) are on the verge of executing two separate cash-based trades ahead of the IPL 2026 season, involving all-rounder Shardul Thakur moving from LSG to MI and left-arm pacer Arjun Tendulkar shifting from MI to LSG. The developments, first revealed by Cricbuzz and corroborated by multiple outlets including Times of India and India Today, come just days before the November 15, 2025, retention deadline, when franchises must finalise their squads for the mega auction slated for mid-December in Abu Dhabi.

While neither team has issued an official confirmation, sources describe the deals as independent transactions rather than a direct swap, allowing each franchise flexibility in balancing their rosters amid evolving salary caps and strategic needs. This potential reshuffle underscores the IPL's dynamic pre-auction window, where cash deals enable targeted acquisitions without player exchanges.

Shardul Thakur, the 34-year-old Mumbai native known as "Lord Shardul" for his clutch international performances—such as his pivotal role in India's historic 2020-21 Gabba Test victory—brings seasoned all-round depth to MI's bowling attack. After going unsold in the 2025 mega auction, he joined LSG as an injury replacement for Mohsin Khan at his base price of Rs 2 crore, where he featured in 10 matches, claiming 13 wickets with economical powerplay spells while contributing modestly with the bat (18 runs).

Thakur's IPL journey has been nomadic, spanning stints with Kings XI Punjab, Rising Pune Supergiant, Chennai Super Kings (where he won titles in 2018 and 2021), Delhi Capitals, and Kolkata Knight Riders, before his brief LSG outing. His return to MI, where he debuted as a teenager in 2010-12, aligns with the franchise's emphasis on reliable Indian pacers, especially as they navigate injury concerns around talents like Deepak Chahar, potentially bolstering their title defense after a middling 2025 campaign.

For LSG, acquiring Arjun Tendulkar represents a long-term investment in youth and left-arm variety, addressing gaps in their seam bowling options post-2025. The 25-year-old son of cricket legend Sachin Tendulkar has been with MI since entering the auction pool in 2021, consistently picked at his base price of Rs 20 lakh but limited to just five IPL appearances across three seasons—yielding three wickets and 13 runs. His domestic form for Goa in the Ranji Trophy has been promising, with 47 first-class wickets and a highest score of 120, including a shift from Mumbai cricket two years ago that honed his all-round skills.

Tendulkar's move could afford him greater opportunities in LSG's relatively open setup, building on his raw pace and swing potential to complement overseas stars, while freeing up MI's purse strings for high-profile retentions like Rohit Sharma or Jasprit Bumrah.

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As the IPL Governing Council reviews such trades to ensure compliance with anti-collusion rules, these moves highlight franchises' proactive squad-building in a post-2025 landscape marked by increased salary purse limits and emphasis on domestic talent pipelines. Ravichandran Ashwin inadvertently amplified the buzz on his YouTube channel by referencing Thakur's MI shift during retention discussions, fuelling fan speculation on social media.

If finalised by November 15, the transactions could set the tone for a vibrant auction, where LSG eyes power-hitting reinforcements and MI prioritises bowling stability, ultimately enhancing competitive parity across the league's 10 teams.

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