New Delhi: Hardik Pandya could be on his way out of Mumbai Indians, with Kolkata Knight Riders (KKR) and Rajasthan Royals emerging as potential trade destinations, according to sources.

There have been multiple discussions between the top management of KKR and the owners of Mumbai Indians over a potential swap, an IPL insider privy to the development told PTI on condition of anonymity.

Pandya's second stint with Mumbai Indians has been a tumultuous one, with the team making only one playoff appearance under his leadership.

"Ajinkya Rahane was always a stop-gap arrangement for KKR and he was always going to be released after this season. The KKR top brass had approached MI owners towards the end of last season but since Reliance's Annual AGM was round the corner, IPL trades were not the biggest priority at the time.

"However, it has been learned that KKR has once again approached MI top leadership and there have been several rounds of discussion," the source said.

It is a given that if Pandya goes to KKR, whether through an all-cash deal or a trade, the captaincy would be available, as Rinku Singh does not currently appear to be a suitable option.

However, the source could not confirm whether MI preferred an all-cash deal for the star India all-rounder or a trade.

The IPL transfer rules state that a player cannot have any individual discussion with another franchise regarding a trade.

The rules also state that franchise-to-franchise discussions are permitted, but a player's consent is mandatory for any transfer. If the player does not consent, he must be released back into the auction pool.

Another proposal is understood to involve a trade between Yashasvi Jaiswal and Pandya, though it remains unclear how far those discussions have progressed.

However, with Rajasthan Royals looking at Assam star Riyan Parag as a long-term captain, it may be difficult for Pandya to secure a leadership role.

If Pandya's transfer materialises, KKR appears to be the more likely destination compared to Rajasthan Royals.