The auction for the upcoming edition of the Indian Premier League (IPL) will be held in Kochi on December 23 as reported by news agency PTI. It'll be a min-auction and apart from the revenue left with the franchises, they'll get an additional INR 5 crore (approx. US $607,000) to spend.
The report also mentioned that the total purse value is expected to increase from INR 90 crore to 95 crore.
All the ten franchises will be required to submit the list of players retained by November 15, the deadline set by the Board of Control for Cricket in India (BCCI).
After the two-day mega auction, which took place for the previous edition, Punjab Kings are left with the most money. The franchise had INR 3.45 crore remaining with them, while Lucknow Super Giants had spent it all.
Chennai Super Kings are left with INR 2.95 crore, while Royal Challengers Bangalore have INR 1.55 crore. Rajasthan Royals are left with INR 0.95 crore, and Kolkata Knight Riders INR 0.45 crore.
{{/usCountry}}Chennai Super Kings are left with INR 2.95 crore, while Royal Challengers Bangalore have INR 1.55 crore. Rajasthan Royals are left with INR 0.95 crore, and Kolkata Knight Riders INR 0.45 crore.
{{/usCountry}}Gujarat Titans, who won the title in their debut season, are left with INR 0.15 crore, while three other teams - Mumbai Indians, Sunrisers Hyderabad, and Delhi Capitals - have INR 0.10 crore.
The mega auction had seen 204 players being sold to respective franchises. It included 107 cap players and 97 uncapped players. The total amount invested was ₹551.7 crores. The sold players were distributed as follows: 137 Indians and 67 overseas players.
Meanwhile, Ishan Kishan was the most expensive player at the auction held last year as he was roped in by Mumbai Indians for a whopping amount of INR 15.25 crore.
Liam Livingstone, who was brought by Punjab Kings for INR 11.50 crore, was the most expensive overseas player at the auction.
-with agencies inputs