December 04 2018
The IPL is the most lucrative domestic cricket tournament in the world and every cricketer wants to be a part of it. The IPL teams chase the signatures of the most talented T20 stars in their bid to land silverware. Which is why the IPL auction has been devised to ensure that every team gets a fair chance to sign the players they want.
Every team has the same budget cap which they are not allowed to exceed during the auctions. They are allowed to sign between 18 and 25 players, of which 8 can be foreigners. All the players who are available for auction are categorized as batsmen, bowlers, all-rounders or wicketkeepers and all of them are assigned specific base prices.
During the auction, each player’s name is announced and bidding starts at his base price. If any team wishes to sign that player, they can make a bid and any team looking to contest that bid can bid higher. This continues until the highest bidder gets the player. At any point, if a team feels that the player is not worth their bid, they can pull out or choose not to bid further. If no team wishes to sign the player, his name is noted down and he is up for auction during round 2 after the first round of player auctions have concluded.
After the first round, all the players who are left unsold are up for auction again with their base price slashed by half. It follows the same process with teams looking to sign those players allowed to bid whatever sum they deem fit as long as they stick to the budget cap. If any player remains unsold during the second round as well, he is released as an unsold player at the auctions.
The teams can also retain 5 players from their previous season through pre-auction retention or Right to Match (RTM). Usually teams chose to retain 3 of their top players and if needed buy back others through RTM. RTM is the right a team has to buy back their player during the IPL auctions by paying only his base price.
The auction for IPL 2019 is set to be held in Jaipur on 18 December 2018. It will be a one-day event with 50 Indian players and 20 overseas players up for auction. All the 8 teams will have a purse of Rs 145.25 crores.
Once the auction is completed and the players have been sold, the 8 franchises will be ready for the 12th edition of the IPL.