IPL 2023 Auctions: What is an Auction & How Does it Works?
From the biggest of names in the sport to breakout stars in domestic cricket, the IPL auction is one stage where players go under the hammer to represent a team in the IPL.
Don’t miss out on this year’s IPL auction, IPL 2023 mega auction on December 23 in Kochi, and will be broadcast live on the Star Sports Network and will be streamed live on Jio Cinema. IPL Fever is back as we entered into 2023.
One of the biggest T20 tournaments played in the world, the IPL is an extravaganza which is eagerly awaited by millions of fans across the globe. The Indian Premier League (IPL) season commences first through an auction this year after adding two new team. You might wonder what is an auction.
All ten franchises, which are a part of the IPL, bid to secure players through a limited budget in an auction, which is conducted annually and is generally a two-day event. The ten franchises bid to secure the services of domestic, national and International players in order to create a perfect squad for their franchise. Since the inception of the Indian Premier League (IPL) in 2008, the auction has been one of the most exiting part of the tournament, where cricketers get multi-million dollar contracts and have a chance to showcase their talent on what can be said the grandest stage in T20 cricket.
- IPL 2023 Mini auction on December 23
- IPL 2023 Mini Auction Event @ Kochi
- Live broadcast on the Star Sports Network
- Live Streaming on Jio Cinema
- Ten Teams in total for IPL 2023 Mini Auction
- Purse Value at INR 90 Crores.
The IPL auction is conducted annually by the BCCI to auction various and diverse cricket players to the ten franchises which are a part of the Indian Premier League. From the biggest of names in the sport to breakout stars in domestic cricket, the IPL auction is one stage where players go under the hammer to represent a team in the IPL. Franchises bid for players who sign up for the IPL auction and the highest bidder, secures the services of the desired player.
How Does the IPL Auction Work?
The BCCI annually conducts the IPL auction and the ten franchises strategies the players they would want the services. A budget is given to each team and within the set money, the franchise have to bid for the services of the players. Each player who has signed up for the IPL auction, and makes the finalized list which is release by the BCCI, has a base price. As telecast on TV, each franchise owner, coach and analysts discuss and bid for the player they have their eye on.
A finalized list of players who want to play in the IPL is released weeks before the IPL auction is set to be conducted. The various franchises plan and strategies who they would want in their team, given the talent, the attribute they posses which makes them stand out. Apart from the national players who represent a country, cricketers who play domestic cricket are also scouted and it is the IPL that can make a cricketer’s career.
Capped and Uncapped Players: Players are marked as Capped and Uncapped. Capped are players who have represented their country at international level and uncapped players are those cricketers who play domestic cricket and are yet to make the national cricket side.
How Much Budget Does Each Franchise Have?
Each franchise gets a budget of Rs. 90 crore to purchase the service of National, International, Capped and Uncapped players in the IPL pool. It is not necessary to spend all the money in their budget, however, according to the rules and regulations laid down by the BCCI, each franchise has to spend 75% of their budget, or Rs. 67.5 crore. Some franchises keep a part of their budget aside to purchase the services of players who were not bid for in the first day.
IPL 2023 Auction
The IPL 2023 auction will be conducted on December 23, 2023,in Kochi Grand Hyatt Hotel. The franchises submitted a list of players they have retained and a list of players who they have released from the squad. November 30, 2022 was the last date for the teams to submit the list of the retained players before the mega auctions.
IPL Auction Live Streaming
Don’t miss out on this year’s IPL auction, which will be conducted on December 23, and will be broadcast live on the Star Sports Network and will be streamed live on Hotstar.
VIVO IPL 2023 Player Retention List
The window for the franchises to retain players for the VIVO Indian Premier League 2023 season closed on 30th November 2022.
With a total salary cap of INR 90 crore available at the mega auction for each team, the eight franchises were eligible to retain up to 4 players with a maximum of 3 Indians, 2 overseas players and 2 uncapped Indians.
Each of the eight franchises used the Player Retention option with Chennai Super Kings (CSK), Delhi Capitals (DC), Kolkata Knight Riders (KKR) and Mumbai Indians (MI) opting to retain 4 players each. Rajasthan Royals (RR), Royal Challengers Bangalore (RCB) and Sunrisers Hyderabad (SRH) have retained 3 players each while Punjab Kings (PBKS) have retained 2. The PBKS thus have the highest salary purse available with INR 72 crore while Delhi Capitals have least at INR 47.50 to be used at the mega auction. Of the 27 retained players, 8 are overseas and 4 are uncapped Indians.
Retention and Purse Value IPL 2023 Auction
A detailed breakup of the players retained, total amount spent, retention deduction and the purse available is provided
Full List of Retained and Released player of 2023 Click Here
Conditions:
- Exceeds: If the League Fee agreed with a Retained Player exceeds the relevant prescribed amount, then an amount equal to that higher League Fee shall be deducted from the relevant Franchisee’s Salary Cap.
- Lesser: If the League Fee agreed with a Retained Player is less than the relevant prescribed amount, then an amount equal to the relevant prescribed amount shall be deducted from the relevant Franchisee’s Salary Cap.
- IPL Retention 2023 Live Updates On Retention List, Retained And Released Players Live Blog, Remaining Purse Value Of All 8 Teams and all the latest update available on IPL Blog.
Don’t miss out on this year’s IPL Mega auction, which will be conducted on December 23, 2022 in Kochi, Kerala, and will be broadcast live on the Star Sports Network and will be streamed live on Jio Cinema.
