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Budget for IPL Franchise Increases to INR 100 crore ahead of 2024 IPL Auction – Report

New Delhi: The Indian Premier League (IPL) franchise will reportedly have a prize pool of Rs 10 crore for the 2024 mini-auction to be held in December. Teams are expected to keep as many retentions as they like while the rest of the players will be sent to the auction pool. Mini-auction date are yet to […]

Edited By : Prateek Gautam | Updated: Jul 23, 2023 21:09 IST
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IPL mini auction

New Delhi: The Indian Premier League (IPL) franchise will reportedly have a prize pool of Rs 10 crore for the 2024 mini-auction to be held in December. Teams are expected to keep as many retentions as they like while the rest of the players will be sent to the auction pool.

Mini-auction date are yet to be fix

Organizers plan to hold the auction at the end of December to avoid conflicts with the Christmas holidays. There are many logistical issues such as booking a hotel while on vacation. BCCI plans to set a date after the 2023 ODI World Championships.

What official says

The Board of Control for Cricket in India (BCCI) official told: “Right now the focus is on the World Championships and once all the details are decided we will move towards the IPL. We will decide on a date after the World Cup is over, probably the third or fourth week of December. We will do our best to find a date that is convenient for you.”

The report also says Mumbai, Jaipur, Ahmedabad, Kochi and Kolkata are all vying to host the IPL 2024 mini-auction. The 2023 mini-auction broke his record of 9.5 billion rupees for a successful bid for a franchise, so it’s no surprise that prize money has increased following the success of the 2023 edition. The return of the home-and-away format and the impact player rule have made recent editions a commercial triumph.

Mini-auction success 

The 2016 Indian Premier League (IPL) auction saw the franchise take home prizes of Rs 66 million, showing how the league has evolved over the years. The deducted amount will be withdrawn from your wallet and will be auctioned off with the remaining money depending on the number and value of the players you released during the offseason.

The 2023 mini-auction saw players like Sam Curran, Ben Stokes, Harry Brooke, Nicholas Pullan and Cameron Green raise record amounts at the event, with each team raising record amounts. The highest-paid record was also broken when Karan received an offer worth Rs 18.5 crore from Punjab Kings (PBKS).

BCCI struggled to organize an auction in Kochi last year, despite being postponed from its original schedule. Several members were late and were virtually present at the auction table.

First published on: Jul 23, 2023 09:09 PM IST

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