Good News: IPL2014 auction on 12 February, teams can retain 5 players
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26-12-2013, 08:04 PM
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IPL2014 auction on 12 February, teams can retain 5 players
MUMBAI: The player auctions for the seventh season of the cash-rich Indian Premier League (IPL) will be held on 12 February next year. After the exit of Sahara-owned Pune Warriors franchise, IPL will be back to its initial eight-team, 60-day format. The IPL Governing Council (GC) has also decided that while every franchise can retain up to five players, the player contracts can be extended for either one or two additional years.
The player contract for the retained player will have to be lodged with the BCCI on or before 10 January and only after 11 January, the franchisee can approach other players. Meanwhile, for the first time, the auctions will happen in Indian currency, a move that will protect franchise owners from rupee depreciation. The total purse for the entire squad is capped at Rs. 60 crore ( Rs. 600 million) compared to $12.5 million in previous season. Each team will have to spend a minimum of Rs. 36 crore ( Rs. 360 million) each year. In case a team decides to retain capped players, Rs. 12.5 crore ( Rs. 125 million) will be deducted from the total purse for the first player. Similarly, Rs. 9.5 crore ( Rs. 95 million) will be deducted for the second, Rs. 7.5 crore ( Rs. 75 million) for the third, Rs. 5.5 crore ( Rs. 55 million) for the fourth and Rs. 4 crore ( Rs. 40 milliom) for the fifth. For uncapped players, Rs. 4 crore ( Rs. 40 million) for each player will be deducted., All squads will have 16 – 27 players, out of which up to 9 may be from oversees. However, the playing XI may have only up to four overseas players. The GC has also added the ‘Rights to Match’ (RTM) to auctions. Once the bidding for any player who was in a franchise’s 2013 squad is complete, the auctioneer will ask the relevant franchise if it wishes to exercise RTM. It will allow the franchisees to take the player for the amount of the final bid that had been made in the auction and no further bidding by any other franchises will be possible. Read more at: http://www.televisionpost.com/news/ipl20...5-players/ | TelevisionPost.com |
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