The auction for the 2014 Indian Premier League (IPL) will beheld Feb 12, the Board of Control for Cricket in India (BCCI) announced yesterday. “The auction will be held on Feb 12 and if necessary on Feb 13. The venue of the auction will be announced soon,” said the BCCI said in a statement.
The teams can retain up to five players and can’t have more than 27 players in the squad, of which nine may be overseas players, according to the regulations laid down by the IPL Governing Council. They need to have at least 16 players to form the squad.
Players whether capped, uncapped, domestic or overseas must enter the auction if they were not part of the 2013 edition. A franchise can spend up to Rs 60 crore on the players’ fees with the cap increasing by five percent for 2015 and 2016. The minimum a team will have to shell out is Rs 36cr in each of the next three IPL editions.
From now on, all players will be paid in Indian rupees and overseas players can be paid in the currency of their choice “at the prevailing exchange rate on either the actual date of payment or contract due date, whichever is beneficial to the player.” Teams will have to pay Rs 39 crore for retaining their five players, leaving them with Rs 21 crore to buy the rest of the 22 players. A retained player can earn a maximum of Rs 12.5 crore. U-19 cricketers must have played a first-class or List A game before signing the the IPL contract, the BCCI said.
‘Rights to match’: Here’s how it works...
The number of “rights to match” available to a franchise will depend on the number of players that the franchise retained in advance:
>> If the number of players retained by a franchise prior to the auction is three or more, they are entitled to only one “right to match” during the auction.
>> If a franchise retains only one or two players prior to the auction, they are entitled to two “rights to match” during the auction.
>> If a franchise doesn’t retain any player prior to the auction, they are entitled to three “rights to match” during the auction.
The “right to match” is to be exercised as follows:
>> Once the bidding for any player who was in a franchise’s 2013 squad is complete and the auctioneer is satisfied that no more bids will be forthcoming, the auctioneer will bring down the hammer, declare the player “sold” and then ask the relevant franchise if it wishes to exercise one of its remaining “rights to match”.
>> If the franchise chooses to exercise the “right to match”, the franchise will take the player for the amount of the final bid that had been made in the Player Auction.
>> No further bidding by any other franchises is possible.
>> Franchises may take no more than four capped Indian players via a combination of retention prior to the auction and the “right to match".