The IPL 2024 auction was a splurge, with franchises collectively spending Rs 230.45 crore on 72 players, 30 of whom were international picks. Mitchell Starc became the most expensive buy in IPL history, bagging a whopping Rs 24.75 crore from the Kolkata Knight Riders, while Harshal Patel clinched the title of the costliest Indian player at Rs 11.75 crore, secured by Punjab Kings. Among the uncapped Indian players, Sameer Rizvi emerged as the highest earner with Chennai Super Kings splurging Rs 8.40 crore on him.
But how does the money flow in the IPL, and do players pocket the entire bid amount? While players indeed receive the full bid amount, there are some deductions and structures involved. Given that this auction was a prelude to the mega-auction, players will sign one-year contracts with their respective franchises. In a mega-auction scenario, it’s typically a three-year contract with retention and release clauses.
A portion of an overseas player’s bid goes to their national board. In Starc’s case, Cricket Australia gets 20% of his Rs 24.75 crore bid from the IPL central revenue pool, amounting to Rs 4.95 crore.
Besides the bid amount, players also receive daily allowances. The sum varies, covering daily expenses like food, lodging, and other incidentals, often around Rs 5,000 per day during home IPL matches.
Payment terms differ; some franchises pay players upfront, while others adopt a staggered approach: pre-tournament, mid-tournament, and post-tournament.
If a player is injured or opts out before the tournament starts, the franchise isn’t obligated to pay them. However, if a player remains available but doesn’t play all games, they still receive their full salary without considering match fees.
Franchises are responsible for a player’s injury treatment during the season. Some, like Mumbai Indians, extend this care even off-season, covering costs beyond the mandated duration.
Understanding these financial dynamics sheds light on how players’ earnings are structured and the various factors influencing their pay within the IPL ecosystem.
