The Indian Premier League (IPL) is one of the most popular cricket leagues in the world. Every year, cricketers from around the world compete to be part of the league. This year, the IPL Auction 2023 took place on December 23, 2022, in Kochi. This blog post will look at everything you should know about the IPL Auction, including the players sold for the IPL Auction 2023, the teams participating, total spends, and the rules governing the auction.
IPL Auction 2024
The Indian Premier League (IPL) Auction is the annual player auction for the IPL, the most popular cricket league. The auction allows teams to bid on and sign players who will represent them in the IPL. IPL auction 2023 was held on 23 December 2022.
The IPL Auction is one of the most important and exciting events in the IPL calendar. It’s an opportunity for teams to recruit new players and build their squads for the upcoming season. Teams can acquire new talent by bidding for players in the open market or signing them through a pre-auction process. Players from around the world are available for selection; each team can select up to seven overseas players.
The IPL Auction 2023 saw 80 players sold and an INR 1,67,00,00,000 spent by the 10 IPL teams.
| IPL (Indian Premier League) | IPL Auction 2024 |
| Date of Auction | 23rd December 2022 |
| Location | Kochi |
| Total Players Sold | 80 |
| Total amount spent (All 10 teams) | INR 1,67,00,00,000 |
| Most expensive player IPL Auction 2023 | Sam Curran (PBKS) |
| Overseas Players | 29 |
| Total Teams | 10 |
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IPL Auction – Rules & Regulations
The Indian Premier League (IPL) Auction is one of the biggest and most anticipated events in Indian cricket. Every year, teams bid on players to create their dream team and compete for the title of IPL champion. The IPL 2023 has taken place, and there were some rules that teams must adhere to when participating in the auction.
For instance, teams must submit their final lists of players at least 48 hours before the start of the auction. They must also adhere to the salary cap limit and cannot sign players for more than their fixed prices. Teams can buy a maximum of nine players but cannot purchase more than seven overseas players.
IPL 2024 – Significant changes
The IPL Auction has strict rules and regulations that need to be followed. The rules ensure a fair auction process and keep teams from overspending their allotted purse. One of the significant changes this year is that using the Right to Match (RTM) card is not allowed. It means teams must bid on players using their allotted purse amount.
Teams must select a minimum of 17 and 25 players for their squad. Of these, there must be a minimum of 17 Indian players and a maximum of 8 foreign players. All teams must spend at least 75% of their allotted purse value of ₹95 crores. No team will be allowed to exceed this limit, or they may face a penalty.
The length of the IPL auction is determined by the number of players put up for auction by all teams combined. The auction was held in the Grand Hyatt Hotel in Kochi on 23 December 2023.
The IPL Governing Council sets the base price for each player in the IPL Auction. Manish Pandey and Mayan Aggarwal are the two Indian players with a base price of INR 1 crore. Each team has its budget and must use it wisely to ensure they make the best picks for their team.
IPL Auction – Bidding Process
The IPL Auction process is a highly competitive bidding process that involves all the teams in the Indian Premier League. The process allows teams to pick up players they feel will benefit their teams the most and help them win the tournament. The process begins with each team setting an initial budget for the auction. All teams then select the players they want to bid on, and these players are put into a pool.
The bidding for each player then takes place, with each team making its highest bid for the desired player. During the bidding process, the teams can change their bids as the auction progresses and new information arises. Once all bids have been submitted, the player goes to the highest bidder. The highest bidder pays the base price of the player plus any additional fees that may have been added during the bidding process.
Kicking Off The Process
With careful selection and strategic bidding, teams can acquire the necessary players to build their dream teams. The IPL Auction is also great for fans to follow and cheer on their favorite team as they bid for their desired players.
In addition, all bidders have to adhere to the base price of each player, which the BCCI decides before the auction. Bidders are also not allowed to bid more than their remaining salary cap limit during the auction. In addition, players can be bought only once during the auction, so a team cannot buy the same player more than once.
The bidding process starts with a silent auction where all interested bidders submit their bids without revealing their identities to each other. Once the bids are submitted, a live auction is held where bidders can see their competitors’ bids and adjust their bids accordingly. Bidding will continue until all bidders have been eliminated or have reached their salary cap limit.
Finally, teams must remember that the minimum number of players a team can buy during the auction is 18, while the maximum number of players can be bought is 25. It means that teams cannot buy more than seven players in one go during the auction.
IPL Auction 2024 – Players And Teams
Take a look at the IPL Auction 2024 outcome:
| IPL Auction 2024 – Teams | Funds Remaining | Overseas Players | Total Players |
| Chennai Super Kings (CSK) | 1,50,00,000 | 8 | 25 |
| Delhi Capitals (DC) | 4,45,00,000 | 8 | 25 |
| Gujarat Titans (GT) | 4,45,00,000 | 8 | 25 |
| Kolkata Knight Riders (KKR) | 1,65,00,000 | 8 | 22 |
| Lucknow Super Giants (LSG) | 3,55,00,000 | 8 | 25 |
| Mumbai Indians (MI) | 5,00,000 | 8 | 24 |
| Punjab Kings (PBKS) | 12,20,00,000 | 7 | 22 |
| Rajasthan Royals (RR) | 3,35,00,000 | 8 | 25 |
| Royal Challengers Bangalore (RCB) | 1,75,00,000 | 8 | 25 |
| Sunrisers Hyderabad (SRH) | 6,55,00,000 | 8 | 25 |
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IPL Auction – FAQs
What is IPL 2024 auction date?
The IPL 2023 auction took place on 19th December 2023.
What is an IPL auction?
An IPL auction is an event held before the start of each IPL season in which the eight teams in the league can bid on and purchase players to add to their rosters.
How does the IPL auction work?
The IPL auction follows a standard bidding process. Each team is given a certain amount of money to bid on players, and the team with the highest bid wins the player. If a team has already reached its maximum number of players or its salary cap, it cannot bid on any more players.
How much money is available for the IPL auction?
The amount of money available for the IPL auction is determined by the salary cap for the league, which the Board of Control sets for Cricket in India (BCCI). The salary ceiling for the 2023 season is INR 95 crore (approx. $11.6 million).
How are the players ranked for the IPL auction?
Players are ranked for the IPL auction based on domestic and international cricket performances. The BCCI releases a list of eligible players for the auction, and these players are then divided into different categories based on their experience and skill level.
How much can a player be bought for in the IPL auction?
The amount a player can be bought for in the IPL auction depends on the player’s skill level and reputation, as well as the demand for their services. Some of the highest-paid players in the league have been bought for over INR 12 crore (approx. $1.6 million) in the auction.