IPL auction 2023 live: What is accelerated bidding, rules, slots available and money left
IPL auction: here’s all you need to know about the Indian Premier League mini-auction, which gets underway in Kochi on December 23.
Published : Dec 22, 2022 14:49 IST , KOCHI
The player auction will be held at Grand Hyatt in Kochi on December 23. It will start at 2.30 pm. | Photo Credit: Sportzpics
The Indian Premier League (IPL) 2023 auction is set to take place on Friday (December 23) in Kochi.
Here’s all that you want to know about the IPL 2023 auction.
# When and where is the auction?
The player auction will be held at Grand Hyatt in Kochi on December 23. It will start at 2.30 pm.
# How many slots are up for grabs, and how much can the teams spend?
Every team has a cap of 25 players, including eight overseas cricketers. After the transfer window and player retention, 87 slots are up for grabs. Of them, up to 30 can be foreigners. It is estimated that around 75 players will eventually go under the hammer.
The cumulative purse available for all the franchises is Rs. 206.50 crore. While Sunrisers Hyderabad will enter with a maximum purse of Rs. 42.25 crore, Kolkata Knight Riders (Rs. 7.05 crore) has the least amount available at its disposal.
# How many players will feature in the auction?
After 991 cricketers from around the world registered for the auction, the list was trimmed to 405, which includes 273 Indians. But not everyone’s name will be put up for the auction.
# How will the auction work?
Each of the first 86 names, divided over the first 13 sets, will be read out by auctioneer Hugh Edmeades. Then on, depending on the remaining slots and purse available, the accelerated auction will begin. Each franchise will be asked to submit 10 players’ names and only those names will be read out along with those from the unsold list from the first 86. If required, there will be a second round of accelerated auction.
# Have the incremental bids been decided?
Yes. The BCCI, in a communication shared with franchises, has spelt out the following incremental bids process:
* Bids up to Rs. 1 crore: Increments of Rs. 5 lakh
* Bids from Rs. 1 crore up to Rs. 2 crore: Increments of Rs. 10 lakh
* Bids from Rs. 2 crore up to Rs. 3 crore: Increments of Rs. 20 lakh
* Bids from Rs. 3 crore onward: Increments at the auctioneer’s discretion, but not less than Rs. 20 lakh.