The Big Updates
The mega auction for the Indian Premier League (IPL) 2022 is around the corner and according to a report, BCCI has asked all the 8 home teams of the League to finalise the list of the final perpetuating members by December for further action.
An IPL governing Council member said that the mega auction will commence in the first week of January 2022 and 10 teams will be in action from next season. The venue of the auction is India and the predicted timing of the event is 3:30 PM IST.
It is a huge event and people can watch it being live-streamed on their mobile phones using the Disney+Hotstar app and website. Besides this, the tournament will also be telecasted on televisions on Star Sports Network for convenience.
The rules of IPL auction 2022
Only 4 players can be retained by the old franchise till 30th November 2021. It is followed by the formation of 2 new franchises. It was further decided that only 3 players will be selected within a time span of December 1 till December 30, 2021. Thereby the new players will not succeed more than 2 Indians and 1 foreigner.
It has also been decided to abandon the use of Right To Match (RTM) cards from the next game. Moreover, the salary cap will be 90 crores and BCCI has demarcated the funds to be deducted from the salary caps.
As per BCCI’s choices of retention, 42 crores will be subtracted from the player purse if 4 players are retained. In case of 3 and 2 retention of players, 33 crores and 24 crores will be deducted from the player purse respectively. A deduction of 14 crores will take place during the retention of a single player. It is thereby important to carefully note the last date of the retention of the mega auction. It is 30 November 2021. However, the retention of all the 8 teams has not been decided yet.