Mitchell Starc got INR 24.75 CR in IPL 2024 auction, while Pat Cummins got INR 20.50 Cr.
This came after the IPL 2024 auction shattered all records in terms of bid money. Pat Cummins became the first player to break the INR 20 Cr barrier when Sunrisers Hyderabad paid him INR 20.50 Cr in the auction.
But then his Australian teammate Mitchell Starc received a winning bid of INR 24.75 Cr from Kolkata Knight Riders, breaking all records in IPL auctions.
However, such a scenario would no longer be feasible, at least from the player's perspective. Ahead of the IPL 2025 auction, the BCCI suggested a new law that would prohibit overseas players from earning more money than those sold or retained in the mega auction.
The IPL Governing Council has also proposed additional regulations to address concerns about overseas players abusing the auction system by exploiting the demand-supply imbalance at mini-auctions to collect large payouts. Under the new laws, a foreign player must register for the mega auction (IPL 2025).
If the player fails to do so, then he will be ineligible to enter the next two auctions in 2026 and 2027. A few exceptions have been allowed for players who are wounded or have a medical condition. However, such a scenario would require confirmation by the home board.
In the IPL 2026 auction, overseas players will also be subject to a salary cap. The maximum fee an overseas player can receive in the mini-auction is determined by a player's highest retention fee or the price another player fetches in the mega-auction. The lower of the two amounts will be considered.
This can be explained with the following example:
If Virat Kohli is retained at the maximum bracket of INR 18 crores and Ishan Kishan receives the highest bid of INR 16 crores at the 2025 mega auction, no overseas player can be paid more than INR 16 crores in the subsequent mini-auction of 2026, whichever is less.
For example, if Ishan Kishan is signed in the mega auction for INR 20 crores, the highest pay that a foreign player can receive is INR 18 crores.
According to the new regulations, bidding on an international player can continue until he is sold to a franchise, at which point the full cost will be applied to the winning team's auction purse. However, any additional funds (over 16 or 18 crores in the cases above) will be directed to the BCCI and used to benefit the players.
The franchises have till 5 p.m. IST on October 31, 2024, to finalize and submit the list of retained players before to auction. "It may be noted that for retention purposes, any player who gets capped on or before October 31, 2024, will be considered a capped player," the IPL statement read.
(Cricbuzz inputs)