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What is the auction process in IPL? The Indian Premier League (IPL) is one of the most popular and lucrative cricket tournaments in the world, featuring some of the best players from India and abroad. Every year, before the start of the IPL season, an auction is held to determine the composition of the eight franchises that compete for the coveted trophy. The IPL auction is a fascinating event that involves a lot of strategy, planning, and bidding among the franchise owners, coaches, and analysts. But What is the auction process in IPL? and what are the rules that govern it? Here is a brief guide to understand the IPL auction process and its key aspects.
Understand: What is the auction process in IPL?
What is the IPL auction?
The IPL auction is an annual event conducted by the Board of Control for Cricket in India (BCCI) to auction the cricket players to various franchises. A dedicated auctioneer controls the proceedings of this multi-day event. IPL franchises fiercely bid for the listed players. The auction ends with a settled squad for every IPL team1.
What is the budget and the squad size for each team?
Each franchise in the IPL gets a purse of INR 90 crore to assemble the team of domestic and international players. The franchises can retain or trade some of the players from their previous squad before the auction, which affects their remaining budget and available slots. The franchises have to spend at least 75% of the purse, which amounts to INR 67.5 crore. The franchises can have a maximum of 25 players in their squad, including a maximum of eight overseas players.
What is the base price and the bidding process?
A base price is the minimum amount that a player can be sold for in the auction. The base price is set by the player himself when he registers for the auction. The base price ranges from INR 20 lakh to INR 2 crore, depending on the player’s reputation and demand. The base price is also an indicator of the player’s confidence and expectation
The bidding process starts with the auctioneer announcing the name and the base price of the player. The franchises can then raise their paddle to indicate their interest in the player. The bidding continues until no other franchise is willing to bid higher than the current highest bidder. The player is then sold to the highest bidder, and the amount is deducted from the franchise’s purse. If no franchise bids for a player, he remains unsold and may be brought back later in the auction.
What are the retention and the right to match cards?
The retention policy allows the franchises to retain some of the players from their previous squad before the auction. The franchises can retain a maximum of four players, including a maximum of two overseas players. The retention policy helps the franchises to keep their core players and build their team around them.
The right to match (RTM) card is a special privilege given to the franchises to match the highest bid for a player who was part of their previous squad but was not retained. The franchises can use the RTM card after the bidding for the player is over, and acquire the player for the same amount as the highest bidder. The franchises can use a maximum of two RTM cards in the auction, and they cannot use the RTM card for a player who was retained by another franchise.
The IPL auction 2024 is a complex and exciting event that determines the fate of the players and the franchises in the IPL. The auction involves a lot of planning, analysis, and bidding among the franchises, who try to assemble the best possible squad within their budget and rules. The auction also provides a platform for the players to showcase their talent and earn a lucrative contract in the IPL. The IPL auction is a spectacle that attracts the attention and interest of the cricket fans and experts alike.
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