IPL 2024 Auction: Date, Venue, Base Price, Retention Rules And Categories

Updated: 11 August 2023

IPL 2024
Image Source: IPL/ Twitter

IPL 2024 Auction: Date, Venue, Base Price, Retention Rules, and Categories: The IPL 2023 is over, and the world’s finest Twenty20 players are reflecting on a thrilling final between GT vs CSK in which Chennai Super Kings and MS Dhoni made history.

This year has seen some exhilarating action, and the activity culminated in a stunning conclusion at the Narendra Modi Stadium when CSK won by five wickets (by DLS method) after a rain-interrupted final that had previously been moved to the reserve day on May 29 owing to the weather. That puts an end to another thrilling season, and minds have already gone to next year.

When it comes to viewership, the Tata IPL 2023 was a record-breaking season. JioCinema, Tata IPL’s digital streaming partner, surpassed 1500 crore video views in just seven weeks of the season. Similarly, as the competition neared its conclusion, several more records were shattered.

However, following the conclusion of IPL 2023, supporters are looking forward to IPL 2024. Before the actual season begins, we have a lot more action in “The Auction.” Here are all of the Indian Premier League (IPL) 2024 auction information. 

IPL 2024 Auction Date

We can expect a rough schedule based on the Indian Premier League (IPL) 2023 even if the IPL 2024 Auction and its specifics have not been confirmed. Fans may anticipate that the IPL 2024 Auction will take place in December and January later this year as the IPL 2023 Auction was held in December of 2022.

Also Read: T20 World Cup 2024: Date, Hosts, Format And Qualified Teams

IPL 2023 Auctions Highlights.

The IPL 2023 auction took place on December 23, 2022, in Kochi. The IPL’s ten teams spent a total of INR 167 crores to sign 80 players, 29 were overseas. After Punjab Kings paid INR 18.50 crore for England all-rounder Sam Curran, he became the most expensive player ever in an Indian Premier League(IPL) auction history. His countryman, Ben Stokes, was signed by Chennai Super Kings for INR 16.25 crore, while their Australian rival, Cameroon Green, was signed by Mumbai Indians for INR 17.50 crore.

Base Price For IPL 2024 Auction

The BCCI raised the purse worth to INR 95 crores in 2023, an increase of INR 5 crores. The IPL 2024 purse worth is projected to grow by INR 10 Crores to INR 100 Crores according to the Indian Cricket Board. They use this funding to put together the finest squad possible, including international players and both capped and uncapped Indian players.

While teams are not compelled to spend the entire Rs 100 crore, the laws mandate that at least 75% of the funds be allocated to the players. The top five players may get between 30 and 40% of a team’s budget.

IPL 2024 Auction Player Retention Rules

Because the forthcoming auction won’t be as large as it was in 2022, all 10 IPL clubs will be eager to keep the majority of their players. The teams’ respective rosters will keep the players who have shown promise. There will be certain players, though, who get cut by clubs.

The players who have been released will go to the auction table to choose a new franchise or be repurchased by their former squad at a reduced price. Only three Indian players with caps and a maximum of two foreign and uncapped Indian players may be kept by a team.

Teams have the option of using RTM to guarantee that a player would be kept if a competitor matches their offer.

Also Read: IPL 2024: Predicted Retained And Released Players List Of All 10 Teams

Different Categories Of Player In The IPL 2024 Auctions

All together there are 3 categories of players who play Indian Premier League. Following are the categories

Capped Players: Indian players who have played for their country’s senior squad at least once in any format.

Uncapped players: Domestic Indian players who have never represented their country at the senior level.

Non-Indian/Foreign/Overseas Participants: These players may represent a capped, uncapped, or associate cricket nation from an adjacent country.

However, an IPL side may only include a maximum of eight foreign players, with only four allowed to play at the same time.

Right To Match Rule Of IPL

One interesting element of this IPL auction is the ‘right to match’ card, sometimes known as the ‘RTM card.’ An RTM card allows a club to purchase an unretained player who played for them in the previous edition for the highest bid price in that auction.

Consider the instance when the Mumbai Indians did not retain Rohit Sharma. The biggest bidder in the bidding battle is Chennai Super Kings for INR 15 crore. MI may now utilise the RTM card to match the final bid for Sharma.

Previous versions have seen teams like MI and CSK, which have won many titles, make excellent use of this strength. In IPL 2018 auction, CSK utilized an RTM to sign South African Faf du Plessis for INR 1.6 crores, while Mumbai Indians paid INR 5.4 crores for Kieron Pollard. Both are still playing in the IPL and have won numerous matches for their clubs over the years, so the prices they paid were reasonable.