PTI
NEW DELHI: IPL franchises will be allowed to retain five cricketers during the 2014 Indian Premier League auction to be held on February 12 with the option of buying back a limited number of players through the newly introduced ‘right to match’ provision.
After a series of discussions, the IPL Governing Council today came up with a number of regulations related to Players’ Contracts, Squad Compositions and the Retention of Players in advance for the 2014 Auction.
“The Pepsi IPL 2014 Player Auction will be held on 12 February, and if necessary, 13 February 2014. The venue of the auction will be announced soon,” BCCI said in a release.
“A franchise may sign up to a maximum of 5 players (either capped or uncapped, no more than four of whom may be capped Indians) who were in its squad in 2013, including those who were unavailable during the season and those who were taken as temporary replacements.”
The salary cap for fees of the entire squad will to be Rs 60 crore for 2014, with an increase of five percent per annum for 2015 and 2016.
Teams will now be forced to make a minimum squad spend of Rs 36 crore in each of the 2014, 2015 and 2016 seasons.
For capped players:
– Rs. 12.5 crore for the first capped player retained.
– Rs. 9.5 crore for the second capped player retained.
– Rs. 7.5 crore for the third capped player retained.
– Rs. 5.5 crore for the fourth capped player retained
– Rs. 4 crore for the fifth capped player retained.
The franchises will be charged Rs 4 crore for each uncapped player who is retained.
A franchise which retains the maximum of five players, all of whom are capped, will have a balance of Rs 21 crore to pay the remaining up to 22 players in its squad for the 2014 season.
Apart from the cricketers who are retained in advance, all other players will have to enter the 2014 player auction process if they want to play in the IPL in 2014, the release said.
