IPL Auction: Franchises will Spend Rs 75 Crore on Five Retained Players.
Franchises that exercise all five retention options will have to allocate Rs 75 crore from their total budget for the auction, which could reach Rs 115-120 crore.
IPL Auction: According to sources, the IPL Governing Council has agreed to allow each franchise five retentions. Franchises that exercise all five retention options will have to allocate Rs 75 crore from their total budget for the auction, which could reach Rs 115-120 crore. This is in contrast to the Rs 90 crore spent during the last mega IPL auction in 2022.
It is understood that most of the stronger franchises like Mumbai Indians, Kolkata Knight Riders and Sunrisers Hyderabad were in favour of retaining six to eight players while there were some other franchises that do not have much star power.
There will also be Right to Match (RTM) provisions, but there is no immediate information about the exact number for this. The other important decision taken in the GC was the introduction of match fees for players. The match fee has been fixed at Rs 7.5 lakh for both Indian and foreign players and will be paid by the franchise.
BCCI secretary Jay Shah has announced that a cricketer who features in all the league matches during a season will be paid Rs 1.05 crore in addition to his contracted salary. The announcement was made after the IPL Governing Council meeting held in Bengaluru on Saturday, September 28.
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