Speculations are rife that PBKS have engaged in advanced talks with MI.
Livingstone was bought by SRH for INR 13 crore at the previous auction.
Suryakumar Yadav captained MI in IPL 2026 when Hardik Pandya was injured.
Senior management of both franchises have reportedly agreed on the core terms.
Hardik Pandya has been out of competitive cricket since IPL 2026.
Australia lost the three-Test series to South Africa 2-1.