Sports.NDTV reported on Feb. 21, 2013, that former Australian captain Ricky Ponting has been appointed the skipper of the Mumbai Indians for the upcoming Indian Premiere League.
Mumbai Indian's newly appointed chief mentor Anil Kumble, their coach John Wright and Sachin Tendulkar decided on Thursday that Ponting is the best candidate to led the side.
There were speculations that either Sachin Tendulkar or Rohit Sharma are going to captain the side.
Now the idea of buying Ricky Ponting, the most successful Australian captain, at such a high rate at the IPL auction is revealed.
Mumbai Indians bought Ponting at the IPL auctions at his base price of $400,000.
Ponting, after the appointment, said, "It's a huge honor and I thank Mrs (Nita) Ambani and the Mumbai Indians management for the faith they have reposed in my abilities.
"Mumbai Indians have the potent combination of Indian and international cricketers and I look forward to leading the team to play to its full potential."
The Mumbai Indians are a strong IPL team yet to win the title. They reached the finals in 2011 and lost to the Chennai Super Kings