In a move that underlines stability and long-term planning, the franchise has retained a large Indian core while letting go of four overseas players, including star all-rounder Glenn Maxwell.

Maxwell, who completed his third stint with Punjab last season, was among the five players released. Joining him on the exit list are Kuldeep Sen, Aaron Hardie, Josh Inglis, and Pravin Dube—three of whom saw little to no game time in the Indian Premier League (IPL) 2025. Kuldeep and Hardie did not feature in a single match last season, while Dube played only once, making their release unsurprising as the team looks to refresh its squad composition.

Head coach Ricky Ponting emphasised the importance of maintaining a settled foundation while targeting specific upgrades.

“We had a great IPL season last year, and it happened because of every single player,” Ponting said, thanking the released cricketers for their contributions. “We will now be aggressively looking to secure high-quality overseas players in the auction, who perfectly plug the defined gaps in our middle-order power-hitting and all-rounder departments. This measured approach, centred on a settled core, is designed to build a deep, balanced squad capable of challenging for the IPL title.”

The retained list reflects this vision. Punjab have continued with a strong Indian lineup led by captain Shreyas Iyer and spearhead Arshdeep Singh, alongside promising youngsters like Prabhsimran Singh, Priyansh Arya, Musheer Khan, Harnoor Pannu, and Suryansh Shedge. The squad also boasts impactful all-rounders and overseas performers, including Marcus Stoinis, Marco Jansen, Azmatullah Omarzai, Yuzvendra Chahal, Mitchell Owen, and Lockie Ferguson, ensuring depth across departments.

CEO Satish Menon echoed Ponting’s sentiment, stressing the importance of continuity. “Our paramount goal was retaining the strong Indian core of our squad, which is absolutely essential for long-term consistency,” he said. “By securing key performers like captain Shreyas Iyer and spearhead Arshdeep Singh, we ensure stability in leadership. We will aim to execute a targeted strategy and focus on high-impact replacements.”

The retained list reflects this vision. Punjab have continued with a strong Indian lineup led by captain Shreyas Iyer and spearhead Arshdeep Singh, alongside promising youngsters like Prabhsimran Singh, Priyansh Arya, Musheer Khan, Harnoor Pannu, and Suryansh Shedge. The squad also boasts impactful all-rounders and overseas performers, including Marcus Stoinis, Marco Jansen, Azmatullah Omarzai, Yuzvendra Chahal, Mitchell Owen, and Lockie Ferguson, ensuring depth across departments.

Retained Players: Prabhsimran Singh, Priyansh Arya, Shreyas Iyer, Shashank Singh, Nehal Wadhera, Marcus Stoinis, Azmatullah Omarzai, Marco Jansen, Harpreet Brar, Yuzvendra Chahal, Arshdeep Singh, Musheer Khan, Pyala Avinash, Harnoor Pannu, Suryansh Shedge, Mitchell Owen, Xavier Bartlett, Lockie Ferguson, Vyshak Vijaykumar, Yash Thakur, Vishnu Vinod.