The IPL Governing Council has taken a significant step to ensure that Indian cricketers remain the biggest beneficiaries of the lucrative Indian Premier League (IPL) player auctions. In a bid to curb the skyrocketing fees for overseas players, the Council has implemented a cap on their maximum auction price at Rs. 18 crore. This cap is tied to the highest retention fee allowed for players, ensuring no overseas player can fetch a higher price than some of the retained Indian superstars.
This decision stems from the recent trend of smaller auctions witnessing astronomical fees for foreign players. The previous mini-auction, held in December 2023, saw Australian cricketers Mitchell Starc and Pat Cummins rake in massive sums of Rs. 24.75 crore and Rs. 20.50 crore respectively. This sparked concerns amongst BCCI officials, leading to the introduction of the cap to protect the interests of Indian players.
The new formula, designed by IPL chief executive Hemang Amin and his team, effectively means that the highest auction price for an overseas player will be capped at either Rs. 18 crore or the highest auction price at the previous “Big Auction,” whichever is lower. For instance, if the highest price at a big auction was Rs. 20 crore, the cap for the next mini-auction would be Rs. 18 crore. However, if the highest price at the big auction was Rs. 16 crore, then the cap for the following mini-auction would be Rs. 16 crore.
Furthermore, the Governing Council has also increased the reserve prices for all players participating in the auction. The minimum base price for capped cricketers has been raised from Rs. 50 lakh to Rs. 75 lakh, while uncapped cricketers will now have a minimum base price of Rs. 30 lakh, up from Rs. 20 lakh. This increase reflects the rising value of players in the IPL and will likely result in a more competitive auction.
The new auction format will see five price brackets for capped players: Rs. 75 lakh, Rs. 1 crore, Rs. 1.125 crore, Rs. 1.50 crore, and Rs. 2 crore. Uncapped players will be divided into three price categories: Rs. 30 lakh, Rs. 40 lakh, and Rs. 50 lakh. These changes will undoubtedly impact the upcoming IPL 2025 player auction, adding another layer of complexity and excitement to the proceedings.
