IPL franchises' purse for IPL 2024 auction set to be increased to ₹100 crore - Reports

The Indian Premier League (IPL) franchises will reportedly have ₹100 crore as their purse amount for the 2024 mini-auction, slated to be held in December. Teams are expected to make as many retentions as they like, with the remainder of the squad heading into the auction pool.

The organizers are planning to stage the auction in late December while avoiding a clash with the Christmas holidays. There are a lot of logistical issues involved which include hotel bookings during the festive season. The BCCI is likely to decide the date following the conclusion of the 2023 ODI World Cup.

A BCCI official told InsideSport:

“The focus is now on World Cup and once every detail is taken care of, we will move towards IPL. We will decide the date after the World Cup. It is most likely in the third or fourth week of December. But it will only be discussed at the IPL GC meeting later on. It will not be on Christmas Eve for sure. We will try to look at a comfortable date for all."

The report also states that Mumbai, Jaipur, Ahmedabad, Kochi, and Kolkata are in contention to host the IPL 2024 mini-auction.

Franchises had a record ₹95 crore to splash during the 2023 mini-auction, and the increase in the purse hardly comes as a surprise following the 2023 edition's success.

The return of the home and away format along with the Impact Player rule made the most recent editions, a commercial triumph.

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IPL 2024 mini-auction is expected to see some manic spending like its predecessor

During the 2016 Indian Premier League (IPL) auction, franchises had a purse of ₹66 crore, which goes to show how the league has evolved over the years.

It is to be noted that the money for retentions will be deducted from the purse and they will walk into the auctions with the money left according to the number and value of the players they have released in the off-season.

The 2023 mini-auction, saw a record splurge by the teams with the likes of Sam Curran, Ben Stokes, Harry Brook, Nicholas Pooran, and Cameron Green going for record sums of money at the event. The record for the most expensive acquisition was also broken, with Curran attracting a bid worth ₹18.5 crore from the Punjab Kings (PBKS).

The BCCI had a tricky time planning the auction last year in Kochi despite a postponement from the initial date. Several members could not make it in time and were present virtually at the auction table.