IPL Auction 2018: When is it, how it works and team budgets

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  • The IPL auction gets underway on January 27.

    All eyes will be on Bengaluru, India when the auction for the 2018 edition of the IPL gets underway.

    A total of 578 domestic and international stars will go under the hammer as the eight franchises loosen their purse strings to find the perfect combinations ahead of the 11th edition of the IPL.

    Over the course of a decade, these auctions have become a big event, generating plenty of excitement and interest while throwing up quite a few surprises and curveballs.

    This year’s auction promises to be no different with a host of star names all vying for a piece of the huge pie.

    WHEN: January 27 and 28

    TIME: From 07:30 GST till evening on both days

    WHERE: Ritz-Carlton, Bengaluru, India

    RETENTION AND RIGHT TO MATCH (RTM)

    The 2018 edition of the IPL sees each franchise allowed to build a squad of maximum 25 players and a minimum of 18 players. Each of the eight franchises will be allowed a maximum of eight overseas players in their final squad.

    Before the auction, each team was allowed to retain a maximum of five players. The retention policy also allowed for a maximum of two overseas players and three domestic capped players.

    No team has retained more than three players ahead of the auction. Apart from the retention, each team will also get some Right to Match (RTM) cards for the players who played for them in the previous season. The RTM cards work in conjunction with the retention. This means that if a team has retained three players, they will have two RTMs left with them for auction day.

    Owner of Mumbai Indians Neeta Ambani (L)

    The parameters for player retention also apply for the RTMs. This means that if a team retains two overseas players, they cannot use the RTM card for another foreign player during the auction.

    Criteria which have to be adhered to by the teams to retain five players (also applies to RTM):

    1. Capped Indian players: Maximum of three.
    2. Overseas: Maximum of two
    3. Uncapped Indian players: Maximum

    TEAM PURSES AND RETAINED PLAYERS

    Each team was given a fixed budget of 80 crore rupees or about £9 million before the start of the retention. After being deducted a certain fee for the players retained, these are the budgets available to the franchises for the final auctions.

    Chennai Super Kings: 47 crore rupees (£5.2 million)

    Retained: MS Dhoni, Suresh Raina, Ravindra Jadeja.

    Delhi Daredevils: 47 crore rupees (£5.2 million)

    Retained: Shreyas Iyer, Rishabh Pant, Chris Morris.

    Kolkata Knight Riders: 59 crore rupees (£6.5 million)

    Retained: Andre Russell, Sunil Narine.

    Kings XI Punjab: 67.5 crore rupees (£7.4 million)

    Retained: Axar Patel.

    Mumbai Indians: 47 crore rupees (£5.2 million)

    Retained: Rohit Sharma, Hardik Pandya, Jasprit Bumrah.

    Rajasthan Royals: 67.5 crore rupees (£7.4 million)

    Retained: Steve Smith.

    Royal Challengers Bangalore: 49 crore rupees (£5.4 million)

    Retained: Virat Kohli, Sarfaraz Khan, AB de Villiers.

    Sunrisers Hyderabad: 59 crore rupees (£6.5 million)

    Retained: David Warner, Bhuvneshwar Kumar.

    HOW THE AUCTION WORKS

    The various franchises will have their respective teams comprising of owners, coaches and analysts. Each team will be assigned a table from where they will bid for the respective players with a paddle to indicate whether they are interested.

    The 578 players have been divided into various groups based on their roles and split into different pots. They have all been assigned a base price ranging from £21,000 for uncapped Indian players to £221,000 for the biggest stars.

    Tier 1 – £221,000

    Tier 2 – £166,000

    Tier 3 – £110,000

    Tier 4 – £82,000

    Tier 5 – £55,000

    Tier 6 – £43,500

    Tier 7 – £21,000

    Indian Premier League Auction 2010

    At the start, auctioneer Richard Madley will announce the name of the player available for bidding along with his base price. The bidding will start with the base price and representatives of the teams will raise the paddle to indicate their interest.

    The bidding will continue until all but one team backs out and the team with the highest bid will get the player.

    If the sold player is eligible for RTM, the auctioneer will enquire with the team for which he played in the previous season. If that team is willing to use their RTM card for the player, Richard Madley will sell the player to them for the same price which the player fetched in the auction.

    If no team raises a paddle, the player will go unsold. After all 578 players have gone under the hammer, the teams will be asked to list any unsold players they might be interested in. A list of all these players will be combined and a fresh auction will start for them with their base prices slashed in half this time.

    This process will be repeated until the teams have their desired kitty of players.

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