With the conclusion of the World Cup in November, the attention of the cricketing world has turned to the next big event on the calendar; the Indian Premier League.
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While the tournament is set to be held around March-April 2024, the big news right now is surrounding the player auction to be held on December 19. The franchises announced their lists of retained and released players last week, and the list of players set to go under the hammer in Dubai was released by the league yesterday.
Here, The Sporting News brings you an explainer on some of the auction dynamics and the meaning of the term base price.
What is base price at an auction? Who sets it up?
Players from around the world can register themselves for the IPL auction, at which point they will be included in the auction pool. When they are called out during the auction, each team can bid an incremental amount for their services. The team with the winning bid will pay their final bid amount to the player for that season.
The base price is the minimum value that a team must bid in order to secure the player's services. It is set by the player themselves, often according to what kind of demand they expect to be in.
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For example, many established Indian and overseas international players will set their base price at the maximum allowed amount of Rs 2 crores, as they will expect more bids. The minimum base price for a player, often taken up by Indian domestic players, is Rs 10 lakhs.
According to reports from earlier this week, several of Australia's 2023 World Cup winners have set their base price as Rs 2 crore, including Pat Cummins, Josh Hazlewood and Travis Head. World Cup breakout star Rachin Ravindra has also entered the auction with a base price of Rs 50 lakhs.
Complete list of registered players and their base price
| Base Price | Players |
| INR 2 crore | Harshal Patel, Shardul Thakur, Umesh Yadav, Kedar Jadhav, Mujeeb Ur Rahman, Sean Abbott, Pat Cummins, Josh Hazlewood, Travis Head, Josh Inglis, Mitchell Starc, Steve Smith, Mustafizur Rahman, Tom Banton, Harry Brook, Ben Duckett, Jamie Overton, Adil Rashid, David Willey, Chris Woakes, Lockie Ferguson, Gerald Coetzee, Rilee Rossouw, Rassie van der Dussen, Angelo Mathews |
| INR 1.5 CR | Mohammad Nabi, Moises Henriques, Chris Lynn, Kane Richardson, Daniel Sams, Daniel Worrall, Tom Curran, Marchant de Lange, Chris Jordan, Dawid Malan, Tymal Mills, Phil Salt, Corey Anderson, Colin Munro, Jimmy Neesham, Tim Southee, Colin Ingram, Wanindu Hasaranga, Jason Holder, Sherfane Rutherford |
| INR 1 CR | Ashton Agar, Riley Meredith, D'Arcy Short, Ashton Turner, Gus Atkinson, Sam Billings, Michael Bracewell, Martin Guptill, Kyle Jamieson, Adam Milne, Daryl Mitchell, Wayne Parnell, Dwaine Pretorius, Alzarri Joseph, Rovman Powell, David Wiese |
| INR 50 LAKH | Rachin Ravindra, Varun Aaron, KS Bharat, Siddarth Kaul, Dhawal Kulkarni, Shivam Mavi, Shahbaz Nadeem, Karun Nair, Manish Pandey, Chetan Sakariya, Mandeep Singh, Barinder Sran, Jaydev Unadkat, Hanuma Vihari and Sandeep Warrier |
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