Second round of auction to take place for IPL
The Cricket Board-floated Indian Premier League (IPL)will conduct a second players' auction next week to enable franchises, that have money left after the initial auction held on February 20, from the five million USD cap, supplement their player base.
"We plan to hold an internal players auction next week with only the team mangement who have money left to supplement their players," said Lalit Modi, IPL Commissioner and Chairman.
Each franchise was to spend a minimum of $3.3 million and a maximum of $5 million for buying players put up at the auction as well as paying for the five icon players whose value was fixed at 15 per cent over and above the costliest player bid successfully by that particular franchise.
Sachin Tendulkar, Rahul Dravid, Sourav Ganguly, Yuvraj Singh and Virender Sehwag are the icon players for Mumbai, Bangalore, Kolkata, Mohali and Delhi franchises respectively.
The first auction held last month saw 79 players snapped up by the eight franchises for sums ranging from $4,00,000 (base price) to $1.5 million (amount paid for Indian one-day and T20 captain by Chennai franchise India Cements).
Modi admitted that the response for the first auction was a bit above what was expected, while mentioning that it was not extra-ordinary considering it was a pioneering effort towards the dawn of a new era in the game.
"To be absolutely honest, the response garnered by the DLF Indian Premier League has been a tad above expectation. But I would not state it is out of the ordinary, when we consider that this was a first towards a bold, new cricketing era," he said.
"We plan to hold an internal players auction next week with only the team mangement who have money left to supplement their players," said Lalit Modi, IPL Commissioner and Chairman.
Each franchise was to spend a minimum of $3.3 million and a maximum of $5 million for buying players put up at the auction as well as paying for the five icon players whose value was fixed at 15 per cent over and above the costliest player bid successfully by that particular franchise.
Sachin Tendulkar, Rahul Dravid, Sourav Ganguly, Yuvraj Singh and Virender Sehwag are the icon players for Mumbai, Bangalore, Kolkata, Mohali and Delhi franchises respectively.
The first auction held last month saw 79 players snapped up by the eight franchises for sums ranging from $4,00,000 (base price) to $1.5 million (amount paid for Indian one-day and T20 captain by Chennai franchise India Cements).
Modi admitted that the response for the first auction was a bit above what was expected, while mentioning that it was not extra-ordinary considering it was a pioneering effort towards the dawn of a new era in the game.
"To be absolutely honest, the response garnered by the DLF Indian Premier League has been a tad above expectation. But I would not state it is out of the ordinary, when we consider that this was a first towards a bold, new cricketing era," he said.
The IPL chairman, who is also a Vice President of the BCCI, defended the auctioning of players in which they were sold like commodities which has come under fire from a few quarters.
"For me the DLF IPL is all about showcasing cricketing talent on a global stage. People that make remarks otherwise simply have not understood the essence of professional sports. What the IPL has done is simply allow free market forces to facilitate a free and fair evaluation of cricketers based on their future potential.
"If a cricketer does not perform at the international level while playing for his country he will not receive the kind of valuations from the free market based on the very principles of economics," he said.
"For me the DLF IPL is all about showcasing cricketing talent on a global stage. People that make remarks otherwise simply have not understood the essence of professional sports. What the IPL has done is simply allow free market forces to facilitate a free and fair evaluation of cricketers based on their future potential.
"If a cricketer does not perform at the international level while playing for his country he will not receive the kind of valuations from the free market based on the very principles of economics," he said.