The IPL 2024 mini-auction is all set to be held at the Coca-Cola Arena in Dubai on Tuesday, December 19.
This will be the first time in the history of the competition that an IPL auction will be held outside India.
All 10 teams have already disclosed their list of released and retained players and now on the basis of that they will analyse their existing squads and then decide on the players they would opt to buy in the auction.
IPL 2023 runners-up Gujarat Titans have the highest remaining purse heading into the IPL 2024 mini-auction. The Ahmedabad-based outfit have a total of 38.5 Crores left in their budget.
A total of 1166 players had registered themselves for the auction this year out of which the organisers shortlisted 333 players - which includes 214 Indian players and 119 overseas players - who will go under the hammer on Tuesday.
MORE: When and where is the IPL 2024 auction being held?
IPL 2024 mini auction rules and regulations
The 333 players in the auction will be divided into three categories, Indian capped players, Indian uncapped players and overseas players.
They will be then grouped again based on their specialty - batters, bowlers, wicketkeepers and all-rounders.
MORE: Team with the biggest purse for IPL 2024 mini auction
What are the price brackets of IPL 2024 mini auction?
The players will be placed into eight price brackets.
The highest bracket is INR 2 crore. The entire list price brackets are as follows:
- INR 2 crore
- INR 1.5 crore
- INR 1 crore
- INR 75 lakh
- INR 50 lakh
- INR 40 lakh
- INR 30 lakh
- INR 20 lakh
The capped players will be brought to the auction table first, followed by uncapped players.
How can teams place a bid on a player?
Once the auctioneer introduces a player, teams can place their bids on him by raising a paddle given to each team.
Raising the paddle signifies to the auctioneer that the team wants to match the player's base price or raise the earlier bid placed by a rival team.
Each raise of the paddle increases the price of the player by a pre-determined amount. For example, till the player's price reaches INR 1 crore, a raise of the paddle pushes the price by INR 5 lakhs.
After 1 crore mark, each raise of the paddle pushes the price by 10 lakhs and after INR 2 crores, it will be 20 lakhs.
What is 'Accelerated Auction' in IPL 2024 mini auction?
The initial rounds of biddings will include players from the Indian capped, overseason capped and a handful of domestic talents.
Once these rounds are complete the auction will enter an accelerated round where all 10 teams will submit a list of players from the unsold lot who will be brought back under the hammer for 'accelerated auction'.
This process will be extremely quick with very little time for teams to place bids on players.
Organisers can also conduct extra rounds if the teams ask to auction unsold players after the accelerated bidding process.
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