The Indian Premier League (IPL), one of the biggest T20 tournaments, is an extravaganza that attracts millions of fans from around the world. Millions of viewers will be captivated by their televisions as players showcase their cricketing chops, and fans in the stands, chant for their favourite team. Add a liberal sprinkle of glitz and glam - Bollywood badasses, business tycoons and political mavericks.
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The IPL season starts off with an auction, which is conducted annually and is generally a two-day event. The IPL's all eight franchises compete in an annual auction to secure domestic, national and International players with a limited budget. This 15th edition of the IPL will be a 10-team event, with the addition of two new franchises, Lucknow and Ahmedabad.?
The auction has been one of the most exciting parts of the IPL since its debut in 2008, as cricketers gain multi-million dollar contracts and a chance to exhibit their talent on what can be called the grandest stage in T20 cricket.
You might be wondering what an auction is. How does the bidding work ? How much money do these players make??
The IPL auction is organized annually by the BCCI. Weeks before the IPL auction, a confirmed list of players who desire to play in the tournament is released. Given their talent and the characteristic that makes them stand out, the various franchises prepare and strategize to sign suitable players for their team. Apart from national players who represent their country, domestic cricketers are also scouted, which can give a huge break to a cricketer¡¯s career.
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Each team is assigned a budget, and within that budget, the franchise must bid one by one for the services of players from a particular category. Players are marked as Capped and Uncapped. A base price is set for each player who signs up for the IPL auction and makes it to the finalised list released by the BCCI. Each franchise owner, coach, and analyst analyzes and makes an offer for the player they want.
This year, a total of 590 players will go under the hammer in a 2-day affair in Bangalore on February 12 and February 13.?
Only 161 players will be put under the hammer on the first day. The accelerated procedure will then begin on the second day, with the remaining 429 players being placed up for sale as well. Finally, the 10 teams will try to fill their squads with a maximum of 25 players while staying below the INR 90 crore budget.
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The names of the players will be announced by the auctioneer, and the teams will begin bidding on them. Each cricketer will be auctioned off depending on their base price, with bidding continuing until the auctioneer declares the player sold. If no team bids for a player, they will go unsold. The auctioneer will give teams the option of listing the unsold players they are interested in, and the bidding for those players will be renewed with the base price lowered to half of what it was originally. The players will be considered unsold in the auction if they remain unclaimed for the second time.
The base price is the lowest amount that an IPL team must offer for a player. Before the IPL auction, the player decides on a price and submits it to the Board of Control for Cricket in India (BCCI), along with a no-objection certificate from his parent board allowing him to compete in the tournament. High-profile Indian and international capped players frequently establish higher starting prices because they expect large offers. Before fixing the base price, players must consider their previous performances, popularity, and social media following, among other factors.
The amount paid for the player becomes the player's salary, with no other claimants (taxes are worked out accordingly).
As per the three-year contract signed by the franchises, each team can retain up to a maximum of five players. They can select a maximum of three Indian players or a maximum of two international players. The three Indians retained can all be capped or be uncapped (players who didn't debut for their national team) or a mix of both.?
The eight existing teams retained a total of 27 players, while the two new teams - Lucknow SuperGiants and Gujarat Titans - each signed three players ahead of the IPL super auction 2022.
Right to Match (RTM) card provides IPL teams with the opportunity to retain their sixth player, which basically gives them first right of refusal on their players. RTM allowed franchises to gain an advantage over other franchises by selecting a former player who had previously belonged to them before being released for auction. However, this time around, the RTM will not be valid for the IPL 2022 mega auction, providing both new franchises an equal chance to form a strong squad.