According to a report in the Times of India, the Board of Control for Cricket in India has finalised the blueprint for the two new Indian Premier League franchises, player retention, mega auction, increase in the salary purse, and media rights tender.
A tender document for the two new teams will be released in mid-August and bids will open in mid-October. Kolkata-based RP-Sanjiv Goenka Group, the Adani group from Ahmedabad, the Aurobindo Pharma Ltd based out of Hyderabad, and the Torrent Group from Gujarat are some of the interested parties.
Meanwhile, the BCCI has also increased the salary purse from INR 85 crore to INR 90 crore. In the next three years, the amount is expected to rise to 100 crore ahead of the 2024 edition. The teams will have to spend at least 75 percent of the allotted purse.
It is also learnt that the franchises will be allowed to retain four players - either three Indians and one overseas player or two Indians and two foreign players. Depending on the number of players retained, specified amounts will be deducted from the salary purse before the auction.
"Some players may like the idea of not wanting to be retained and will want to head into the auction pool. That’s because there’s an increase in the salary purse and two new teams are being added. So, there’ll be a rush to grab talent. Expect some leading Indian cricketers to forward their names for the auction," say those tracking developments.
The report further stated that the BCCI is also planning the big media-rights auction towards the end of 2021. With the month of March being potentially available from the 2023 IPL, the BCCI should have enough window to conduct 90-plus matches between 10 franchises. The board is expecting at least a 25 percent increase in the value of media rights.