IPL 2023 Mini Auction: As major teams and their owners get ready for the bidding war in Kochi on Friday (December 23), the Indian Premier League (IPL) auctions for the 2023 season will take centre stage. The franchises are anticipated to engage in a bidding war to secure their top picks from the shopping list because big names like Sam Curran, Cameron Green, and Ben Stokes are included in the pool for the auctions. But what happens if two franchises are tied on the same amount and one runs out of cash?
Tie-Break Rule: What is it?
It happens as follows, in accordance with the auction guidelines distributed to the franchises:
- Once the applicable bidding increment has been applied, a franchisee’s bid for a player is the highest it can go; in other words, the franchisee does not have enough money left over on its 2023 Salary Cap to place a second bid for the player.
- The auctioneer will declare the player “sold” at a League Fee for 2023 in the amount of the Last Bid and will use the tiebreaker process outlined in paragraph 25 to decide which Franchisee will sign the player for 2023 if one or more Franchisees do place a Matching Bid for the player.
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How does the tie-breaking rule function?
Both the Franchisee who made the Last Bid and each Franchisee who made a Matching Bid for the player will be invited by BCCI to submit a silent written bid (the “Tiebreak Bid”) on a form that BCCI will supply.
The Franchisee’s willingness to make a one-time payment in Indian rupees to BCCI (not the player) in order to secure the player’s services for the IPL 2023 season is indicated in the Tiebreak Bid. Notably, the amount of the Tiebreak Bid is distinct from and in addition to the Last Bid or Matching Bid amount, as applicable, both of which together make up the player’s bid.
The Tiebreak Bid is a separate sum that the relevant Franchisee is willing to pay to BCCI; it is not taken out of the Franchisee’s Salary Cap. The Tiebreak Bid’s dollar amount has no cap.
BCCI will launch tie-break bids
The player will then be awarded to the Franchisee who made the highest written Tiebreak Bid after BCCI has opened the written Tiebreak Bids. Only the highest bidders will be invited to repeat the process until a winner is determined if two or more of the highest Tiebreak Bids are equal. There will be no disclosure of the Tiebreak Bid amount.
The winning Franchisee will commit to paying the BCCI the sum of its Tiebreak Bid within 30 days of the Player Auction and will enter into a 2023 standard form IPL Player Contract with the player with a League Fee in the amount of its Last Bid or Matching Bid as appropriate (or highest Tiebreak Bid if there were multiple rounds of bidding).
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