Punjab Kings (formerly Kings XI Punjab) entered the Indian Premier League in 2008 after being bought for INR 304 crore by a consortium of four owners. Despite being one of the lower-bid franchises, PBKS have remained a competitive side throughout the years, though consistent success has often eluded them. The team underwent a rebranding in 2021, changing their name from Kings XI Punjab to Punjab Kings, and have reached two IPL finals, in 2014 and 2025, unfortunately losing on both occasions.

The franchise had a bright start in the inaugural IPL season, showcasing promising talent and aggressive gameplay.

They had trouble in 2010 where they were on the verge of expulsion, but reinstated close to the auction period. Despite their return, PBKS struggled to form a stable core and endured a few underwhelming seasons.

In 2014, under the guidance of coach Sanjay Bangar and the leadership of George Bailey, Punjab enjoyed a breakout season, topping the league table and narrowly losing the final to Kolkata Knight Riders (KKR). However, they couldn’t maintain that momentum in subsequent years, frequently undergoing leadership and squad changes.

Throughout the 2020s, PBKS built one of the strongest batting line-ups in the tournament but were hampered by instability, including multiple captaincy shifts.

The franchise’s fortunes took a positive turn in 2025 when Ricky Ponting was appointed head coach and Shreyas Iyer took over the captaincy, leading the team to their first IPL final in 11 years.

While PBKS have yet to lift the IPL trophy, their auction strategies have often made headlines, with bold, high-value signings and surprise picks showcasing their ambition to finally turn potential into championship success.

Here is the complete table of Punjab Kings' most expensive players in each IPL auction season

Season	Player	Nationality	Price (INR)
2008	Irfan Pathan	India	3.8 crore
2009	Luke Pomersbach	Australia	1.8 crore
2010	Irfan Pathan	India	1.9 crore
2011	Adam Gilchrist	Australia	4.14 crore
2011	Dinesh Karthik	India	4.14 crore
2012	Adam Gilchrist	Australia	4.5 crore
2013	Manpreet Gony	India	4.43 crore
2014	Mitchell Johnson	Australia	6.5 crore
2015	Murali Vijay	India	3 crore
2016	Mohit Sharma	India	6.5 crore
2017	T Natarajan	India	3 crore
2018	KL Rahul	India	11 crore
2019	Varun Chakaravarthy	India	8.4 crore
2020	Glenn Maxwell	Australia	10.75 crore
2021	Jhye Richardson	Australia	14 crore
2022	Liam Livingstone	England	11.5 crore
2023	Sam Curran	England	18.5 crore
2024	Harshal Patel	India	11.75 crore
2025	Shreyas Iyer	India	26.75 crore

Note:

• The above table lists only those highest-paid players picked in the auction, excluding those retained, traded, or part of the icon players from the 2008 to 2010 seasons.
• IPL auctions from 2008 to 2013 were conducted in USD; hence, the prices have been converted to INR based on the average USD to INR conversion rate of the respective year.