Bangalore: Gautam Gambhir, discarded by the Kolkata Knight Riders after seven years as captain, will now lead the Delhi DareDevils, his home franchise.

"We've had a few conversations with Gautam, who'd been looking to return to his first IPL franchise, and he'll be captaining the DareDevils...

"Indeed, we're happy to have Gautam and he'll deliver...

"It's hard to find fault with anything Gautam did at KKR. He's won the IPL twice and brings with him a wealth of experience," Ricky Ponting, the DareDevils' head of cricket, said on Saturday evening.

The DareDevils bought Gambhir for no more than Rs 2.80 crore on the opening day of the IPL auction for the period 2018-2020.

Gambhir will be captaining a gifted bunch of players, perfectly capable of winning the IPL for the first time.

Owner Kiran Kumar Grandhi of the GMR Group, however, preferred not to even suggest that his franchise appeared much stronger than some of the others.

"Thank you for congratulating us, but all teams are good," Grandhi told The Telegraph at the ITC Gardenia.

Asked why Yuvraj Singh and Harbhajan Singh had each gone for only Rs 2.00 crore and Gambhir for not too much more, Ponting responded with somewhat of a bemused look.

"It's hard to put a finger on why, but there's more investment on youth. More and more young players are playing the T20 leagues and, as a result, improving their skills early...

"After a certain age, you can't improve your skills and, at 34-35, it's only a downward slide from then on...

"I can't think of any other reason for the low prices," Ponting, among the greatest of batsmen and a top-notch captain, said.

During the course of the day, this Reporter exclusively spoke to the key men and women associated with some of the eight IPL franchises.

Excerpts (random order)...

• Nita Ambani (MI, during the lunch break): I wouldn't say we've been quiet, it's a long auction. Also, don't forget we retained three players.

• Akash Ambani (MI, at the end of the day): Look, I wouldn't state that one franchise looks stronger at this point in time. All have picked quality players... Tell me how much would Hardik Pandya have gone for? Much more than Ben Stokes is my take.

• Tom Moody (SRH, at the end of the day): I wouldn't say one franchise looks better than the rest. You could have a good team, yet play badly. We aren't done with the auction yet.

• Ricky Ponting (DD, at the end of the day): I've been so busy working out my own combinations that I haven't given a thought to the other franchises.