IPL Franchise to get INR 90 Crore Purse, Salary Structure of retained players.
IPL 2022 Mega Auction: The Board of Control for Cricket in India (BCCI) has recently revealed the IPL 2022 Player retention rules for the eight existing franchises and the two new entrants. Soon after the announcement of the two new IPL Franchises, BCCI rolled out a letter to all the franchises informing them of the retention rules for the IPL 2022 Mega Auctions.
The existing eight IPL teams are allowed to pick four retentions which can be divided as two India and two overseas or three Indian and one overseas while the two new teams are entitled to pick three big players from the auction pool.
Moreover, it was informed that the salary cap of 90 Crores will be placed on each franchise that will be used for making player purchase. In the IPL 2021 Mini Auctions, the total purse value was capped at INR 85 Crores. Furthermore, each franchise can spend a maximum of INR 46 Crores for retaining four players of their choice.
“The BCCI had sent a letter to all the franchises, updating them about the new rules where four retentions will cost a team Rs 42 crore while three retentions will lead to a reduction of Rs 33 crore,” a senior IPL franchise official told PTI.
If a franchise opts to retain a maximum of two players, they will have to spend INR 24 Crores while for one retention, the franchise will shell out INR 14 Crores.
The retention process will begin on November 1 and the final submission date is November 30. The two new franchise will begin their process of picking three players from the auction pool soon after the existing eight franchise complete their retention process. The Mega Auction is then likely to be held in early January.
Salary structure of retained Players:
In case of four retentions –
Player 1 – INR 16 Crores
Player 2 – INR 12 Crores
Player 3 – INR 8 Crores
Player 4 – INR 6 Crores
In case of three retentions –
Player 1 – INR 15 Crores
Player 2 – INR 11 Crores
Player 3 – INR 7 Crores
In case of two retentions –
Player 1 – INR 14 Crores
Player 2 – INR 10 Crores
In case of one retention –
Player 1 – INR 14 Crores
