IPL: BCCI may unveil two new teams in October, mega auction in December; Here’s salary cap, player retention
The ToI reported that the BCCI will start the tender process for new teams in August and the franchises will be introduced in October. Here are some details about new teams and the mega auction.
1. Who are the interested parties in new IPL teams?
Adani Group owned by Gautam Adani is a front-runner along RP Goenka Group, Hyderabad-based Aurobindo Pharma and major multi-national group Torrent Group etc are in the fray at the moment. You may also some other serious contenders as the tender process opens next month.
2. Why introduction of IPL teams in October
There are a couple of reasons. The IPL 2021 second part’s knockout and final will be held in the UAE in October and the BCCI thinks that it will be a good time to reveal the two news teams to the world. This will also give the two teams sufficient time to prepare for the IPL mega auction ahead of IPL 2022.
3. IPL mega auction
Originally, the mega auction was scheduled ahead of IPL 2021 but the BCCI had to limit it to a mini auction after the Covid 19 pandemic played havoc with the schedule. Now the mega auction is planned to be held in December 2021 ahead of IPL 2022, which the BCCI hopes to conduct in India.
4. The expected rule changes for mega auction
The BCCI is expected to raise the salary cap of teams to Rs 90 crore from Rs 85 crore. The teams can continue to retain up to four players as it has been the case in previous years. But there is a slight change to the retention pattern. The franchises should mandatorily spend 75% of the salary purse, which is set to touch Rs 100 crore mark ahead of IPL 2024.
The teams now will have to perforce retain at least two Indian players as in the early years there was no such specifications. The teams can now retain either two Indian players and as many foreign players or three Indian players or 1 overseas player.
Currently, the teams will have to shell out Rs 15 crore, Rs 11 crore and Rs 7 crore for retaining three players while Rs 12.5 crore and Rs 8.5 crore if they retain two players and Rs 12.5 crore for retaining one player. This pattern may change as the BCCI is planning to increase the salary cap.
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