With a surge in coronavirus infections across the globe, the sporting events worldwide looked grim. India’s most coveted cricket event – Indian Premier League 2020 raised a certain cloud of doubt about its happening as well. But amid the uncertainties, while following the hygiene protocols and no spectators on the stands, IPL 2020 was a roaring success with Mumbai Indians clinching the champions’ title for the fifth time. With the game getting and popular each year, it brings the question what can be the cost of an IPL franchise ?
Current brand value of IPL Teams 2020
As per Statista, the current brand valuation of Mumbai Indians is $ 70.3 Million, followed by Chennai Super Kings at $59.8 Million and then Kolkata Knight Riders coming third at $58.4 Million.
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As per Statista, the current brand valuation of Mumbai Indians is $ 70.3 Million, followed by Chennai Super Kings at $59.8 Million and then Kolkata Knight Riders coming third at $58.4 Million.
IPL auction in 2021
The IPL auction held on February 18, 2021, franchisees had a list of 292 players to choose from. A total of 1114 players had registered for IPL 2021 auction from where 292 were shortlisted. The IPL teams of 2021 can either 18 members or a 25 member team. In a 25 member team size, 8 players have to be from overseas and 17 players should be Indian.
Minimum budget for the IPL Auction 2021
Each IPL franchisee has been allotted a maximum budget of 85 crores to buy a player and no franchise will be allowed to buy a player beyond the purchase capacity. Also, the minimum amount that a franchisee can spend to buy a player is upto 75 % of the overall purse. In case a franchise completes its squad by purchasing 18 players within 70% of the money, the remaining 5% of the balance will directly go to the Board of Cricket Control of India.
The Right to Match Power
The IPL auction of 2021 was a mini-auction, due to which the Right to Match (RTM) card will not be available to franchises’ bids to re-sign the players they have released before the auction. To get the released players back, franchisees need to bid again.
In Right to Match card, the franchises can retain their released players back even if a franchisee buys him, it is generally available during the mega auction.
IPL in 2022
With things returning to normalcy, this year’s IPL 2021 will begin in April. BCCI will be roping in additional two teams in IPL 2022, where instead of eight teams there will be an addition of two more new teams. With the addition of two new teams, BCCI has decided to fix the base price of each franchisee to be at a minimum of Rs 1500 Crore. Based on the base price the bidding war will take place, and will follow the same suit where the player is bought by the one who bids the highest.
