The BCCI has finalized the blueprint for the two new franchises, mega auctions, increments in teh salary purse ahead of the next edition of the Indian Premier League (IPL). The plans will be expected to be executed between August 2021 and January 2022. BCCI is looking to introduce two new franchises and a tender document for the same will be brought out in mid-August and following the mandatory checks, bids will be opened in mid-October, to be timed with the final of the second phase of IPL 2021 in the UAE.
Accoridng to the recent reports, the BCCI is set to increase the salary purse from ₹85 crores to ₹90 crores, which will mean adding ₹50 crores to the total salary pool (among 10 franchises). Franchises will be required to spend 75% of the allotted purse. Over the next three years, the purse will increase from ₹90 crores to ₹95 crores and eventually ₹100 crores ahead of the 2024 season.
The mega auction is expected to be held in December this year while the two new franchises are expected to be introduced by October.
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Player retention has also been finalized. Each franchise will be allowed to retain four players, but with the following conditions – they can either retain three Indians and one overseas player or two Indians and two overseas players.
Franchises retaining players must deduct specified sums from their salary purse before heading into an auction. The salary deduction, in the existing structure, is stipulated as follows: ₹15 cr, ₹11 cr, and ₹7 cr if three players are retained; ₹12.5 cr and ₹8.5 cr if two players are retained; and ₹12.5 cr if only one player is retained.
With the salary purse set to increase by ₹5 cr (85 to 90), and BCCI allowing franchisees to retain a maximum of four players now, this structure may undergo a slight change going forward.
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And finally, the BCCI is planning the big media-rights auction too, towards the end of 2021. With the month of March now potentially being available to them to start the season early from IPL 2023 onwards – that’ll help the board accommodate 90-plus matches between 10 teams – the board and the industry expects a minimum 25% increase in the value of media rights going forward.
