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The rules and regulations concerning the auction for the upcoming season of the Indian Premier League (IPL) have been set by the Governing Council. The meeting for the same was held in Bengaluru yesterday (September 28).
The eight-point media advisory issued by the Board of Control for Cricket in India (BCCI) stated that the purse has been bumped from ₹100 crores last year to ₹120 crores this year, allowing teams to retain up to five of their present players and one Right to Match (RTM) card.
The RTM is a card that can be exercised when teams that have exhausted their retention slots want to retain an existing player. This allows the franchise to match the ongoing bid and get the player back in their fold. For a full explainer of how RTM works, click here.
RTM makes a comeback after the rule was overlooked for the 2022 Mega Auction. Previously, the team that used the RTM card would straightaway acquire the player but this time around, there will be a different way the rule can be exercised.
As per Cricbuzz, if a franchise manages to acquire a player via the RTM, the highest bidder will be allowed to raise their bid before the team exercises the option.
Take this example for instance. Should Rajat Patidar enter the auction and get a winning bid of ₹5 crores from Kolkata Knight Riders, then Royal Challengers Bengaluru can exercise their RTM card. This would allow KKR to make another bid and raise it to ₹5.25 crore before RCB decides to retain the player via RTM again, this time at the increased bid.
IPL franchises will be required to submit their list of retained players by October 31, 2024
According to the aforementioned report, IPL franchises will be required to submit their list of players by Thursday, October 31, 2024, before 5 PM IST. An uncapped player will be considered capped if he makes his debut on or before October 31.
Kolkata Knight Riders are the defending champions of the IPL. They beat Sunrisers Hyderabad in the summit clash by eight wickets to win their third title.
