NEW DELHI, Jan 13, 2025 (BSS/AFP) - Indian batsman Shreyas Iyer has been named captain of Indian Premier League team Punjab Kings for the upcoming edition of the lucrative T20 tournament.

Iyer, a title-winning captain with Kolkata Knight Riders last season, was picked by Punjab for 267.5 million rupees ($3.17 million) as the second-most expensive buy in the IPL auction in December.

The 30-year-old Iyer said he was excited to re-unite with Australian great and new Punjab coach Ricky Ponting, after the two previously worked together with Delhi Capitals.

Iyer said he was "honoured" to be named as skipper.

"I am looking forward to working again with coach Ponting," Iyer said in a statement late Sunday.

"The team looks strong, with a great mix of potential and proven performers", he added. 

"I hope to repay the faith shown by the management to deliver our maiden title."

Ponting said Shreyas had "a great mind for the game", adding that his "proven capabilities as captain will enable the team to deliver".

The 18th edition of the tournament will begin on March 21 with Kolkata hosting the opener and the final on May 25, according to reports in the Indian media.

The IPL is a huge earner for Indian cricket and the tournament makes more than $11 billion for the economy each year.

The pioneering IPL helped make Twenty20 cricket hugely popular, spawning copycat events worldwide.