IPL 2024 Mega Auction: All set for mega auction at Jeddah from Nov 24 | Check All Details

IPL 2024 mega auction: The IPL 2024 mega auction is set to take place on November 24 and 25 in Jeddah, Saudi Arabia, marking yet another milestone for the globally renowned cricket league. Known for transforming cricketers into millionaires, this auction will see bids worth Rs 641.50 crore placed on 577 players. A total of 10 franchises will compete to acquire 204 players to complete their squads.

The event will commence at 3 pm on November 24, with bidding continuing until 8 pm. The remaining players will go under the hammer starting at 3 pm the following day. This marks a significant step in the Board of Control for Cricket in India (BCCI)’s vision to make the IPL auction a global phenomenon, continuing the trend started with the previous mega auction held in Dubai. Until then, all auctions were exclusively hosted in India.

The mega auction format

The IPL mega auction occurs once every three years. The last mega auction was held before the 2022 IPL season. In this format, teams are restricted in the number of players they can retain, creating a level playing field for franchises. For IPL 2024, teams were allowed to retain up to six players. Mini auctions are conducted in intervening years, allowing franchises to retain a larger number of players.

For the 2024 IPL season, the auction will be broadcast live on Star Sports Channel and streamed online on Jio Cinema. 

The players and their base prices

A total of 1,574 players registered for the mega auction, out of which 577 were shortlisted. Among these are 367 Indian players and 210 overseas players, including four from associate nations. The pool also includes 331 uncapped players, of whom 319 are Indians and 12 are from overseas.

The base price for players is a predetermined amount that serves as the starting bid. The highest base price is Rs 2 crore, featuring 82 players in this bracket. Other base price categories include Rs1.5 crore (27 players), Rs 1.25 crore (18 players), and Rs 1 crore (23 players). Additionally, there are players with base prices set at Rs 75 lakh, RS 50 lakh, Rs 40 lakh, and Rs 30 lakh, totaling 427 players in these lower brackets.

Franchise budgets and retention strategy

The IPL Governing Council has allocated a purse limit of Rs 120 crore for each team. This budget includes the cost of retaining their top players. After retention, Punjab Kings have the largest remaining purse of Rs 110.50 crore and 23 slots to fill, making them a key player in the auction.

Teams that retained more players have smaller budgets left. For example, Rajasthan Royals have only Rs 41 crore left to spend and 19 slots to fill. The Royal Challengers Bangalore (RCB) and Delhi Capitals have 22 and 21 slots to fill, respectively.

Right to Match (RTM) Card

The RTM card allows teams to reclaim a player who was part of their previous squad. For instance, if RCB’s Glenn Maxwell is bid for Rs 7 crore by Mumbai Indians, RCB can use an RTM card to retain him by matching the final bid. However, if the bidding escalates to Rs 10 crore, RCB must match that amount to keep Maxwell.

Teams that retained fewer than six players have more RTM cards at their disposal. For example, Punjab Kings retained only two players, allowing them to use up to four RTM cards. Sunrisers Hyderabad and Rajasthan Royals, on the other hand, have no RTM cards, while other teams have one each.

Auction structure and player categories

The 577 players are divided into 79 sets, with each set comprising 5–8 players. The sequence starts with marquee players followed by batsmen, bowlers, wicketkeepers, fast bowlers, and spinners.

The first seven sets feature 45 capped international players, including marquee names like Jos Buttler, Shreyas Iyer, Rishabh Pant, Kagiso Rabada, Arshdeep Singh, and Mitchell Starc. The marquee set will open the auction, and bidding will continue in this sequence.

From sets 8 to 12, 38 uncapped players will go under the hammer, followed by players from other categories. The process will speed up after the 117th player, allowing franchises to make quicker decisions on the remaining 460 players.

International and domestic talent

A maximum of 70 overseas players can be purchased across all teams, as the rules allow only four foreign players in the playing XI. Squads must comprise 18–25 players, with the remaining slots filled by domestic talent.

Mumbai Indians, Punjab Kings, and Royal Challengers Bangalore have retained no overseas players, enabling them to purchase the maximum of eight international players each. Meanwhile, Sunrisers Hyderabad retained three overseas players, leaving them with five slots for foreign talent.

Auctioneer and process

The auction will be conducted by Mallika Sagar, who also hosted the previous IPL auction. The process involves franchises placing bids on players, with the auctioneer announcing the latest bid amounts. The highest bidder secures the player, with the iconic hammer strike and the declaration of "Sold" marking the conclusion of the deal.

All 10 franchises will have their management teams present at the auction, devising strategies to build the perfect squad. Teams aim to balance their rosters with a mix of marquee players and uncapped talent.

Notably, marquee players such as Jos Buttler and Kagiso Rabada are expected to fetch hefty sums, while franchises will also scout for hidden gems among uncapped players.

Looking ahead to IPL 2025

Once the auction concludes and squads are finalised, teams will begin preparations for the IPL 2025 season. Players not tied up in national duties will commence training in January 2025. The 18th edition of the IPL will feature 74 matches between 10 teams, scheduled from March 14 to May 25, 2025.

The previous IPL season in 2024 was held from March 22 to May 26, with Kolkata Knight Riders, led by Shreyas Iyer, defeating Sunrisers Hyderabad in the final to clinch the title.