Wednesday, June 29, 2022

IPL Auction Punjab Kings Live Updates: BCCI to KXIP, spending 75% of auction purse mandatory

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IPL Auction Punjab Kings (KXIP) Live Updates: Punjab Kings aka Kings XI Punjab (KXIP) will be busiest franchise today at the Indian Premier League (IPL 2021) auctions in Chennai. Punjab Kings is sitting on highest player purse of 53.2 Cr and BCCI has directed them to spend minimum 75% of the total player purse at the IPL Auction which will keep them really busy.

This diktat by the IPL GC will upset some of the franchises including KingsXI Punjab who is sitting on 53.2 Cr player purse.

“All teams have to spend minimum amounts and we have kept the threshold levels at 75% of the 85 Cr player purse as the minimum amount that franchises will have to spend. This has been norm with IPL Auctions in past as well”, said one of the top BCCI official to InsideSport.

Also Read:IPL 2021 Big Update: VIVO to stay IPL title sponsor, BCCI confirms by naming 14th edition as VIVO IPL 2021 

IPL 2021 Auctions: IPL GC’s Directive to the IPL franchises Explained: According to the new directive, franchises will have to spend minimum 75% of the total player purse allotted to the teams. Each franchise has been given 85 Cr player purse upper limit and they are directed by BCCI to spend minimum 63.75 Cr on buying the players. If any of the franchise spends less than the amount of 63.75 Cr – BCCI will take away the deficit as penalty.

This clearly means none of the franchise can play MONEYBALL like strategy. Each franchise has also been directed to have minimum 18 players in the squad with upper limit of 25. No one can have more than 8 overseas players in the squad as is the norm with IPL over last few years.

IPL 2021 Auctions: What does the new directive means for teams like KingsXI Punjab ?

Kings XI Punjab can be impacted financially by the new directive. The team from Punjab currently has 53.2 Cr of 85 Cr player purse in their kitty. They have only spent 31.8 Cr to retain 16 players. Now they will have to shower 31.95 Cr to buy 9 more players at the auctions. If they spend anything less, money in the purse will be forfeited by the BCCI.

Without any doubt, KXIP will now literally shower money at the auctions to achieve minimum spending threshold of 63.75 Cr at the Auctions.

Kings XI Punjab (KXIP) Retained Players: KL Rahul, Chris Gayle, Mayank Agarwal, Nicholas Pooran, Mandeep Singh, Sarfaraz Khan, Deepak Hooda, Prabhsimran Singh, Mohammed Shami, Chris Jordan, Darshan Nalkande, Ravi Bishnoi, Murugan Ashwin, Arshdeep Singh, Harpreet Brar, Ishan Porel

Like Kings XI Punjab, Rajasthan Royals and Royal Challengers Bangalore is also below the minimum spending levels. But Rajasthan team with 37.85 Cr in its kitty and 16 players retained can clear the spending threshold by buying remaining 9 players. Same is the case with RCB who has 35.4 Cr in their kitty with only 14 players retained up till now.

Remaining Player Purse Status of All 8 IPL Teams
Kolkata Knight Riders – 10.75 Cr remaining 17 Players including 6 foreigners
Sunrisers Hyderabad – 10.75 Cr remaining 22 Players including 7 foreigners
Delhi Capitals – 13.4 Cr remaining 17 Players including 5 foreigners
Mumbai Indians – 15.35 Cr remaining 18 Players including 4 foreigners
Chennai Super Kings – 19.9 Cr remaining 19 Players including 7 foreigners
Royal Challengers Bangalore – 35.40 Cr remaining 14 Players including 5 foreigners
Rajasthan Royals – 37.85 Cr remaining 16 Players including 5 foreigners
Kings XI Punjab – 53.2 Cr remaining 16 Players including 3 foreigners

 

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