"Yes, it was a work in progress and we were waiting for the signature of one of the KXIP directors before going ahead with the deal. The team management believes looking at the last season that he can play an integral role on the kind of wickets that we play on at home," a DC official told IANS.
Ashwin, who was signed by Kings XI Punjab at the 2018 auction for Rs 7.6 crore, led the franchise in 14 matches in this year's IPL edition and scalped 15 wickets.
Overall, the off-spinner has taken 125 wickets in 139 IPL matches at an economy rate of 6.79, which is the best among all Indian bowlers with 50-plus wickets.
KXIP have not made the IPL play-offs since 2014 when they finished as runners-up. The Punjab-based franchise has not been able to perform as per expectations ever since IPL's inaugural season in 2008 and are, along with Delhi, the two franchises, who have not been able to lift the trophy till now.
It is also reported that Kings XI are likely to appoint a new captain, with K.L. Rahul being currently the favourite.
Former New Zealand head coach Mike Hesson, who was in charge of KXIP in this year's edition of IPL, last month joined Royal Challengers Bangalore (RCB) as director of Cricket Operations.
Delhi Capitals are also in talks with Rajasthan Royals to bring in Ajinkya Rahane to their squad for the next season of the cash-rich league.