The five-time champions had a whirlwind season last year, making a memorable comeback after losing their first four matches in the tournament. The team even came close to winning a record sixth trophy but was eliminated in the knockout stages after securing a top-four place.

With the retention window closed, MI has retained their key senior players—Rohit Sharma, Hardik Pandya, Jasprit Bumrah, and Suryakumar Yadav—while restructuring the remaining team to achieve better balance across different departments.

Before announcing their releases and retentions, MI traded in Sherfane Rutherford from the Gujarat Titans and Shardul Thakur from the Lucknow Super Giants to strengthen their squad.

Then on Saturday morning, the Hardik Pandya-led franchise traded in Mayank Markande from Kolkata Knight Riders as the leg-spinner returned to his former franchise.

In a shocker for many, MI traded out Arjun Tendulkar, the son of the legendary Sachin Tendulkar, who was roped into the franchise at the 2021 auction and had since remained with the side, making his debut in 2023.

Among the other players released are Vignesh Puthur, who emerged as a sensation for the franchise in 2025, and Reece Topley, a senior English pacer.

Retained - Rohit Sharma, Suryakumar Yadav, Tilak Varma, Robin Minz, Ryan Rickelton, Hardik Pandya (C), Naman Dhir, Mitchell Santner, Will Jacks, Corbin Bosch, Raj Bawa, Trent Boult, Jasprit Bumrah, Deepak Chahar, Ashwani Kumar, Raghu Sharma, AM Ghazanfar

Released - Satyanarayana Raju, KL Shrijeet, Lizaad Williams, Mujeeb Ur Rahman, Bevon Jacobs, Reece Topley, Vignesh Puthur, Karn Sharma

Retained - Rohit Sharma, Suryakumar Yadav, Tilak Varma, Robin Minz, Ryan Rickelton, Hardik Pandya (C), Naman Dhir, Mitchell Santner, Will Jacks, Corbin Bosch, Raj Bawa, Trent Boult, Jasprit Bumrah, Deepak Chahar, Ashwani Kumar, Raghu Sharma, AM Ghazanfar

Traded out - Arjun Tendulkar (to LSG)