Sports

Aussies shine with huge deals in IPL auction – Magazine Creations

NEW DELHI: World cricket champions Australia had a lot to boast about on Tuesday as fast bowlers Mitchell Starc and Pat Cummins racked up record bids for new franchises in the 17th Indian Premier League (IPL) auction held at Koka in Dubai. – Cola Arena.

Cummins, who is also captain of the Australian cricket team, was sold first to Sunrisers Hyderabad for a record fee. $20.5 Crores. But he was soon beaten to the top by his teammate Starc, who went to Kolkata Knight Riders for $24.75 crore after a titanic bidding war with Gujarat Titans. Both comfortably beat the previous record held by Sam Curran, who was snapped up by Punjab Kings for $18.5 lakh crore in 2022.

At the auction, 333 cricketers went under the hammer (including 214 Indians), filling a maximum of 77 slots. Gujarat Titans bagged the highest purse for a player $38.15 Crore Lucknow Super Giants earned the lowest at $13.15 Crores. The highest reserve price (minimum allowed bid) for the player was $2 Crores.

More large-money bids were closed during the day. Mumbai Indians have captured Hardik Pandya from Gujarat Titans $15 Crores. Pandya, who captained Gujarat in the last two seasons and will now lead MI, will be replaced by Shubman Gill at the helm of the Gujarat Titans. To bring Pandya back, MI released Cameron Green to Royal Challengers Bangalore $17.5 Crores.

The other big bids to close were for New Zealander Darryl Mitchell $Rs 14 crore from Chennai Super Kings, Harshal Patel ( $Rs 11.75 crore to Punjab Kings); West Indian fast bowler Alzarri Joseph ( $11.5 crore, Royal Challengers Bangalore), Australian opening batsman Travis Head ( $Rs 6.8 crore, Sunrisers Hyderabad); Indian fast bowler Shivam Mavi ( $6.4 Crore, Lucknow Super Giants) and Umesh Yadav ( $5.8 Crore, Gujarat Titans).

During auctions, the price at which a player is purchased is considered his salary for one year. Therefore, if a player is purchased for $He will get Rs 7 crore for four years $28 crores during that time. Tax is also calculated on this amount. Teams generally come up with a rough figure of how much to pay per match, and if a player is unavailable for a match, the fee structure is adjusted.

Payment terms vary for each team. Most of the time, teams pay half the fee upfront at the beginning of the season. Buying teams also give a 10% mark-up on the fee charged by a player to cricket boards for international players. For example, Sunrisers Hyderabad will pay the Australian Cricket Board $2 crore during the year as royalty on top of what they would pay for Cummins.

According to Houlihan Lokey, Inc. US-based consultancy, IPL’s standalone brand value has risen 80% to $3.2 billion this year, boosted by a record $15.4 billion media rights deal secured for the 2023-2027 season.

Viacom18 outbid Disney Star via push $23,757 crore for the broadcast rights of IPL for the five-year cycle, while Disney Star retained the linear TV rights for $23,575 crores. This is also the first time that two competing networks have owned media rights at the same time.

The IPL’s media rights grew at a strong CAGR of 18% from 2008-23, while growth in absolute terms between the 2017 and 2023 cycles was 196%, the consultancy added. When comparing the Indian Premier League’s broadcast fees with other professional leagues in the world on a per-match basis, the Indian Premier League is second only to the National Football League (NFL), and far superior to the National Basketball Association (NBA), the English Premier League. League (EPL) and Bundesliga.

At the same time, the player auctions in the ISL are nowhere close to those of any football league in the world, where millions are distributed every season to the best players.

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Published: 19 December 2023 11:59 PM IST

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