The BCCI has finalized the draft for the Indian Premier League (IPL), two new Franchise, Player retention, a mega auction, hike in the salary purse and the media rights tender are among the plans to be stated out between August 2021 and January 2022.
The cricket board has finally made up the plan to introduce Two Brand new Franchise to the league. A tender documents for the same will be introduced in the mid-August and following the mandatory norms, bids will be opened in mid-October, to be started with the finals of IPL PHASE-2 in the UAE. Kolkata-based RP Sanjiv Goenka groups based out of Kolkata, The Adani groups based out of Ahmedabad, Aurobindo Pharma Ltd based out of Hyderabad and the Torrent groups that operates from Gujarat are known to be showing interest. Likewise there are some of the corporate companies and private entity and investment advisory firms who are busy to get a space in the bid closely right now.
The BCCI is set to raise the Salary purse from 85crore to 90crore that will state adding RS 50crore to the total salary count (among 10 Franchise). Franchise must mandatorily spend 75% of the allotted purse. Over the next year, the purse will steadily increase from RS 90crore to RS 95crore and eventually RS 100crore till it comes to 2024 season.
Player retention has also been finalized. Each Franchise are allowed to retain four players each, but with respective condition- they can either retain three Indian and one overseas player or two Indian and two overseas player.
Franchise retaining player must deduct allotted sum from the salary purse before heading into the auction. The salary deduction in the current structure is stipulated as follows: RS 15crore, RS 11crore and RS 7crore if three players are retained: RS 12.5crore and RS 8.5crore if two players are retained: and 12.5crore if one player is retained.
“Some players may like the idea of not waiting to be retained and will not head to the auction pool. That’s because there’s a hike in the salary purse and two new terms are being added. So, there will be a rush to grab talent. Except some leading Indian cricketers to forward their names for the auction,” says the operating Officials.
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