BENGALURU: For the first time in the history of the Indian Premier League, earnings of an overseas player have been capped. Given the latest development, the fee of the overseas cricketer will now be lower than the highest retention price of Rs 18 crore at small auction or the highest price at the big auction. It effectively means no overseas player can be sold for a fee bigger than the retained Indian stars.
“In case the highest auction price at a big auction is Rs 20 crore, then Rs 18 crore will be the cap. If the highest auction price at a big auction is Rs 16 crore then the cap will be RS 16 crore,” a document shared with the teams and the BCCI affiliates after the IPL governing council meeting on Saturday read.
It also says that the auction will continue beyond Rs 18 crore and the final amount will be charged from the auction purse. The incremental amount over Rs 16 crore or Rs 18 crore, whichever that is, will be deposited with BCCI and will be utilised for player’s welfare.
This is one of the many key decisions taken at the IPL governing council meeting on Saturday with the focus on overseas players. For starters, the overseas players have to register for the mega auction to be eligible for the mini auction. And if a player gets picked but withdraws at the last moment, he will be banned for two years from the league and auction.
This comes in the aftermath of Australia pacers Pat Cummins and Mitchell Starc breaking the bank, going for Rs 20.5 crore and Rs 24.75 crore to Sunrisers Hyderabad and Kolkata Knight Riders, respectively in the mini auction last year.
Meanwhile, in the case of an uncapped player becoming a capped player, the salary has gone up from Rs 50 lakh to Rs 1 crore for one cap, Rs 75 lakh to Rs 1.5 crore (5-9) and Rs 1 crore to Rs 2 crore (ten caps). Similarly, the auction reserve price for the capped and uncapped players have also been increased.
The auction purse, which is increased to Rs 120 crore for 2024 auction, will further go to Rs 125 crore in 2026 and Rs 130 in 2027. Apart from that, the player loan concept will be reinstated and the Impact Player rule will also continue through the 2024-27 cycle.