The Board of Control for Cricket in India (BCCI) has outlined the player retention criteria for the Indian Premier League (IPL) 2022, where two new teams will join the tournament and a mega auction with increased team purses will be conducted to finalised squads, reported Times of India.
“Each franchise will be allowed to retain four players, but with the following conditions – they can either retain three Indians and one overseas player or two Indians and two overseas players,” the TOI mentioned in its report.
The BCCI is also set to increase the teams’ salary purse from INR 85 crores to 90 crores, which would mean an enhancement of about 50 crores in the financial pot available at the auction room across 10 IPL 2022 franchises. It will be mandatory for each of the franchises to spend 75% of their purse, the value of which will also expand from 90 to 95 to 100 crores by the 2024 season.
The player retention exercise will deduct the franchise’s sum total before approaching the auction. Currently, teams lose INR 15 crores, 11 crores and 7 crores if they retain three players, they lose 12.5 crores and 8.5 crores on retaining two players and 12.5 crores if they chose to keep just one player. This structure, however, is in for a change since the overall purse of all IPL 2022 franchises will increase to 90 crores from 85 crores – which is a great news for the players.
“Some players may like the idea of not wanting to be retained and will want to head into the auction pool. That’s because there’s an increase in the salary purse and two new teams are being added. So, there’ll be a rush to grab talent. Expect some leading Indian cricketers to forward their names for the auction,” those close to the developments were quoted as saying by TOI.
BCCI set to unveil tender document for two new IPL teams for IPL 2022; planning media-rights auction for next cycle
With the suspension of IPL 2021 proving to be a major headache, there was a chance that the BCCI may have delayed the addition of two new teams to the IPL roster. However, the board recently decided to go ahead with its first-choice plan and is now reportedly set to unveil a tender document for the same in the middle of August before opening up bids in October after some mandatory checks.
Given that IPL is a multi-billion dollar industry, there is a great interest among major business enterprises to bid for two new teams that will make it a 10-team event for the first time in a decade. As per the TOI report, these enterprises include “Kolkata-based RP-Sanjiv Goenka Group; the Adani group headquartered in Ahmedabad; Aurobindo Pharma Ltd based out of Hyderabad and the Torrent Group that operates from Gujarat.” Similarly, other corporate entities and firms are waiting to study the BCCI tender and pounce on the opportunity to become a part of the IPL.
It’s a situation that the BCCI will look to maximise, not just at the team bidding auction but also through a media-rights auction towards the end of 2021, with the existing five-year (2018-22) Star Sports deal reaching near its end.
It is likely that the IPL will start off in March from 2023 onwards to accommodate 90-plus games contested by 10 participating teams. With that in mind, “the board and the industry expects a minimum 25% increase in the value of media rights going forward.” The rights value could also be dictated by the proliferation of the OTT platforms since the start of the COVID-19 pandemic. All in all, the IPL will continue to grow stronger and stronger.